HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA – Free Report) in a research note released on Friday, Benzinga reports. They currently have a $50.00 target price on the stock.
A number of other research firms have also recently commented on BMEA. JPMorgan Chase & Co. boosted their target price on shares of Biomea Fusion from $14.00 to $15.00 and gave the stock a neutral rating in a research note on Friday. Truist Financial reiterated a buy rating and set a $55.00 price objective on shares of Biomea Fusion in a research note on Monday, April 1st. Finally, Oppenheimer restated an outperform rating and issued a $70.00 target price on shares of Biomea Fusion in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Biomea Fusion presently has a consensus rating of Moderate Buy and a consensus price target of $53.25.
View Our Latest Research Report on BMEA
Biomea Fusion Price Performance
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last announced its earnings results on Monday, April 1st. The company reported ($0.98) earnings per share (EPS) for the quarter. On average, research analysts forecast that Biomea Fusion will post -4.25 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Biomea Fusion
A number of institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in shares of Biomea Fusion by 113.8% in the 3rd quarter. Citigroup Inc. now owns 116,134 shares of the company’s stock worth $1,598,000 after acquiring an additional 61,810 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Biomea Fusion by 125.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 180,000 shares of the company’s stock worth $2,477,000 after purchasing an additional 100,000 shares during the period. Rafferty Asset Management LLC boosted its holdings in Biomea Fusion by 70.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company’s stock valued at $3,218,000 after purchasing an additional 96,945 shares during the last quarter. Trexquant Investment LP acquired a new position in Biomea Fusion in the 3rd quarter valued at about $434,000. Finally, FMR LLC grew its stake in shares of Biomea Fusion by 0.6% in the 3rd quarter. FMR LLC now owns 5,344,191 shares of the company’s stock valued at $73,536,000 after buying an additional 34,026 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.
About Biomea Fusion
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.
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