Biomea Fusion, Inc. Expected to Earn Q4 2024 Earnings of ($1.05) Per Share (NASDAQ:BMEA)

Biomea Fusion, Inc. (NASDAQ:BMEA) – Equities researchers at HC Wainwright lifted their Q4 2024 earnings per share estimates for shares of Biomea Fusion in a note issued to investors on Thursday, August 1st. HC Wainwright analyst J. Pantginis now anticipates that the company will earn ($1.05) per share for the quarter, up from their prior forecast of ($1.10). HC Wainwright currently has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Biomea Fusion’s current full-year earnings is ($4.09) per share.

Several other analysts have also commented on the stock. Citigroup lowered their price target on shares of Biomea Fusion from $90.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. JPMorgan Chase & Co. raised their price target on Biomea Fusion from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Oppenheimer reduced their price objective on Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Piper Sandler dropped their price objective on Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, June 7th. Finally, Scotiabank cut their target price on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating for the company in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Biomea Fusion currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

Biomea Fusion Trading Up 7.6 %

Shares of NASDAQ BMEA opened at $6.10 on Monday. The company’s 50-day moving average price is $5.90 and its 200 day moving average price is $11.53. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The stock has a market cap of $219.26 million, a price-to-earnings ratio of -1.71 and a beta of -0.52.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, meeting the consensus estimate of ($1.03).

Hedge Funds Weigh In On Biomea Fusion

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Biomea Fusion by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company’s stock valued at $20,416,000 after buying an additional 15,626 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Biomea Fusion by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock worth $2,656,000 after acquiring an additional 1,028 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Biomea Fusion by 46.0% in the second quarter. Bank of New York Mellon Corp now owns 93,317 shares of the company’s stock valued at $420,000 after purchasing an additional 29,400 shares during the period. SG Americas Securities LLC increased its position in Biomea Fusion by 90.8% during the second quarter. SG Americas Securities LLC now owns 59,009 shares of the company’s stock worth $266,000 after purchasing an additional 28,085 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $174,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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.