Biomea Fusion’s (BMEA) Buy Rating Reiterated at D. Boral Capital

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

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

Biomea Fusion Trading Down 0.7%

NASDAQ BMEA opened at $1.37 on Monday. The stock’s 50 day moving average is $1.84 and its 200 day moving average is $1.84. Biomea Fusion has a 12 month low of $1.29 and a 12 month high of $12.18. The stock has a market cap of $81.53 million, a PE ratio of -0.45 and a beta of -0.12.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. On average, analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Biomea Fusion

Several large investors have recently modified their holdings of the stock. Aisling Capital Management LP increased its position in shares of Biomea Fusion by 156.5% during the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after purchasing an additional 1,250,000 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Biomea Fusion by 398.2% during the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company’s stock valued at $1,265,000 after purchasing an additional 474,862 shares during the last quarter. Nuveen LLC bought a new position in shares of Biomea Fusion during the 1st quarter valued at approximately $575,000. AQR Capital Management LLC boosted its holdings in Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after acquiring an additional 229,763 shares during the period. Finally, Scotia Capital Inc. purchased a new position in Biomea Fusion during the 2nd quarter valued at $459,000. 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.