Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $23.91 Average Price Target from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $23.91.

Several research firms have recently weighed in on BMEA. D. Boral Capital reiterated a “buy” rating and set a $16.00 target price on shares of Biomea Fusion in a research report on Wednesday, March 19th. Barclays lowered their price objective on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Monday, March 31st. Finally, Oppenheimer set a $10.00 price target on Biomea Fusion in a report on Monday, March 24th.

Institutional Trading of Biomea Fusion

Several hedge funds have recently modified their holdings of BMEA. Bayesian Capital Management LP purchased a new stake in Biomea Fusion during the fourth quarter valued at approximately $42,000. Wells Fargo & Company MN increased its position in shares of Biomea Fusion by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock worth $50,000 after purchasing an additional 4,399 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Biomea Fusion during the 4th quarter valued at $54,000. SG Americas Securities LLC acquired a new stake in shares of Biomea Fusion in the 4th quarter worth $58,000. Finally, Maia Wealth LLC purchased a new position in Biomea Fusion during the 4th quarter worth $62,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Trading Down 4.8 %

BMEA stock opened at $2.19 on Monday. The stock has a market cap of $82.28 million, a PE ratio of -0.55 and a beta of -0.07. Biomea Fusion has a 12 month low of $1.53 and a 12 month high of $13.43. The company has a 50-day moving average price of $2.39 and a 200 day moving average price of $4.96.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Monday, March 31st. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.19. Sell-side analysts forecast that Biomea Fusion will post -3.93 EPS for the current year.

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.