Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $24.64 Consensus PT from Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average rating of “Buy” by the thirteen research firms that are 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 issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.91.

Several equities research analysts recently commented on the company. Oppenheimer set a $10.00 price objective on Biomea Fusion in a report on Monday, March 24th. D. Boral Capital reissued a “buy” rating and set a $16.00 price objective on shares of Biomea Fusion in a 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 on the stock in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a research report on Monday.

Biomea Fusion Stock Up 8.5 %

NASDAQ:BMEA opened at $2.16 on Thursday. The stock has a market cap of $78.28 million, a price-to-earnings ratio of -0.54 and a beta of -0.26. The company’s 50 day moving average price is $3.19 and its 200-day moving average price is $5.89. Biomea Fusion has a 52 week low of $1.87 and a 52 week high of $14.43.

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

Institutional Trading of Biomea Fusion

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bayesian Capital Management LP purchased a new stake in Biomea Fusion in the 4th quarter worth approximately $42,000. The Manufacturers Life Insurance Company bought a new position in shares of Biomea Fusion in the third quarter worth approximately $111,000. Wells Fargo & Company MN increased its stake in shares of Biomea Fusion by 51.7% in 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 bought a new stake in shares of Biomea Fusion during the 4th quarter valued at $54,000. Finally, Maia Wealth LLC purchased a new position in shares of Biomea Fusion during the 4th quarter valued at $62,000. Hedge funds and other 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.