Biomea Fusion (NASDAQ:BMEA) Receives “Buy” Rating from D. Boral Capital

D. Boral Capital restated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note issued to investors on Monday,Benzinga reports. They currently have a $16.00 price target on the stock.

Several other research analysts also recently commented on BMEA. Oppenheimer reaffirmed an “outperform” rating on shares of Biomea Fusion in a research note on Tuesday, August 5th. Citigroup reduced their price objective on shares of Biomea Fusion from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Scotiabank reduced their price objective on shares of Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of Biomea Fusion in a research report on Thursday, August 28th. They set a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Biomea Fusion Stock Down 2.7%

Shares of NASDAQ BMEA opened at $1.42 on Monday. Biomea Fusion has a 52 week low of $1.29 and a 52 week high of $12.85. The firm’s fifty day moving average is $1.86 and its 200 day moving average is $1.85. The company has a market cap of $84.50 million, a price-to-earnings ratio of -0.47 and a beta of -0.12.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Tuesday, August 5th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.08. Equities research analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Investors Weigh In On Biomea Fusion

Hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new stake in Biomea Fusion in the second quarter worth about $26,000. CWM LLC boosted its position in shares of Biomea Fusion by 8,058.5% in the 1st quarter. CWM LLC now owns 16,888 shares of the company’s stock worth $36,000 after purchasing an additional 16,681 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Biomea Fusion in the 1st quarter worth approximately $37,000. Marex Group plc bought a new position in Biomea Fusion during the 2nd quarter valued at approximately $81,000. Finally, Ieq Capital LLC bought a new position in Biomea Fusion during the 1st quarter valued at approximately $122,000. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Company Profile

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.