Biomea Fusion (NASDAQ:BMEA) Given New $12.00 Price Target at D. Boral Capital

Biomea Fusion (NASDAQ:BMEA) had its price objective dropped by analysts at D. Boral Capital from $16.00 to $12.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

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

Biomea Fusion Stock Down 4.5%

NASDAQ:BMEA opened at $1.26 on Wednesday. The company has a market cap of $74.98 million, a P/E ratio of -0.42 and a beta of -0.16. Biomea Fusion has a fifty-two week low of $1.24 and a fifty-two week high of $9.34. The firm’s 50 day moving average is $1.80 and its two-hundred day moving average is $1.84.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). Research analysts forecast that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BMEA. Nuveen LLC acquired a new position in Biomea Fusion in the 1st quarter valued at approximately $575,000. CWM LLC lifted its position in 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 buying an additional 16,681 shares in the last quarter. Federated Hermes Inc. lifted its position in Biomea Fusion by 398.2% in the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company’s stock worth $1,265,000 after buying an additional 474,862 shares in the last quarter. Ieq Capital LLC purchased a new stake in Biomea Fusion in the 1st quarter worth approximately $122,000. Finally, Cerity Partners LLC purchased a new stake in Biomea Fusion in the 1st quarter worth approximately $37,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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.