D. Boral Capital Reaffirms “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

D. Boral Capital reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $16.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Scotiabank decreased their target price on shares of Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating on the stock in a report on Wednesday, August 6th. Oppenheimer reiterated an “outperform” rating on shares of Biomea Fusion in a report on Tuesday, August 5th. Jefferies Financial Group assumed coverage on Biomea Fusion in a research report on Thursday, August 28th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Citigroup cut their target price on Biomea Fusion from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Biomea Fusion Stock Up 0.9%

Shares of BMEA opened at $2.15 on Friday. Biomea Fusion has a 52-week low of $1.29 and a 52-week high of $13.07. The stock has a fifty day simple moving average of $1.85 and a two-hundred day simple moving average of $1.91. The company has a market capitalization of $127.95 million, a PE ratio of -0.71 and a beta of -0.12.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. As a group, equities analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Trading of Biomea Fusion

A number of large investors have recently made changes to their positions in BMEA. Marex Group plc acquired a new stake in Biomea Fusion in the second quarter valued at approximately $81,000. Engineers Gate Manager LP purchased a new stake in shares of Biomea Fusion in the 2nd quarter valued at approximately $26,000. Bridgeway Capital Management LLC raised its holdings in shares of Biomea Fusion by 99.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after purchasing an additional 35,000 shares in the last quarter. Aisling Capital Management LP lifted 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 worth $3,688,000 after purchasing an additional 1,250,000 shares during the last quarter. Finally, Scotia Capital Inc. acquired a new position in shares of Biomea Fusion during the second quarter worth $459,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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.