Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $8.20 Consensus Price Target from Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEAGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.20.

BMEA has been the topic of several research analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research note on Tuesday, April 28th. Wall Street Zen downgraded Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Citizens Jmp assumed coverage on Biomea Fusion in a research note on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 target price on the stock. Weiss Ratings cut Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. Finally, Citigroup initiated coverage on Biomea Fusion in a research note on Tuesday, May 5th. They set an “outperform” rating for the company.

View Our Latest Analysis on Biomea Fusion

Institutional Investors Weigh In On Biomea Fusion

Several institutional investors have recently added to or reduced their stakes in BMEA. Scientech Research LLC bought a new position in Biomea Fusion during the third quarter worth about $25,000. Engineers Gate Manager LP bought a new stake in shares of Biomea Fusion in the second quarter valued at approximately $26,000. Millennium Management LLC lifted its stake in shares of Biomea Fusion by 156.7% during the 4th quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock valued at $32,000 after buying an additional 15,675 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Biomea Fusion during the 3rd quarter valued at approximately $39,000. Finally, ADAR1 Capital Management LLC bought a new position in Biomea Fusion in the 4th quarter worth approximately $54,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Stock Performance

Shares of BMEA stock opened at $1.32 on Friday. The firm has a market cap of $95.67 million, a price-to-earnings ratio of -4.55 and a beta of -0.28. Biomea Fusion has a 52 week low of $0.87 and a 52 week high of $2.99. The firm’s 50-day simple moving average is $1.27 and its two-hundred day simple moving average is $1.38.

Biomea Fusion (NASDAQ:BMEAGet Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.10. Analysts forecast that Biomea Fusion will post -0.73 earnings per share for the current year.

About Biomea Fusion

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Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.

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Analyst Recommendations for Biomea Fusion (NASDAQ:BMEA)

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