Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $9.00 Average Target Price from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.00.

A number of brokerages have commented on BMEA. Scotiabank reduced their target price on Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 6th. Citigroup dropped their price target on Biomea Fusion from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 11th. D. Boral Capital reduced their price objective on Biomea Fusion from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Oppenheimer reaffirmed an “outperform” rating on shares of Biomea Fusion in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group assumed coverage on shares of Biomea Fusion in a report on Thursday, August 28th. They set a “buy” rating and a $5.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMEA. Cerity Partners LLC acquired a new stake in shares of Biomea Fusion in the first quarter valued at approximately $37,000. CWM LLC grew its holdings in Biomea Fusion by 8,058.5% in the 1st quarter. CWM LLC now owns 16,888 shares of the company’s stock valued at $36,000 after buying an additional 16,681 shares in the last quarter. Federated Hermes Inc. grew its holdings in Biomea Fusion by 398.2% in the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company’s stock valued at $1,265,000 after buying an additional 474,862 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Biomea Fusion in the 1st quarter worth $575,000. Finally, Ieq Capital LLC purchased a new position in shares of Biomea Fusion during the 1st quarter worth $122,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Stock Up 5.4%

BMEA stock opened at $1.37 on Friday. The stock has a market capitalization of $96.86 million, a P/E ratio of -0.57 and a beta of -0.16. The firm has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $1.82. Biomea Fusion has a 52 week low of $1.22 and a 52 week high of $8.47.

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

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.