Biomea Fusion’s (BMEA) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research report released on Friday morning,Benzinga reports. D. Boral Capital currently has a $128.00 price objective on the stock.

A number of other analysts have also issued reports on BMEA. Scotiabank increased their target price on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a report on Friday, September 27th. Truist Financial upgraded Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, September 27th. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a report on Monday, December 16th. RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Piper Sandler boosted their price objective on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $39.36.

Biomea Fusion Stock Down 6.8 %

Shares of Biomea Fusion stock opened at $3.98 on Friday. Biomea Fusion has a 12-month low of $3.61 and a 12-month high of $20.21. The firm has a market capitalization of $144.23 million, a PE ratio of -0.99 and a beta of -0.35. The stock’s fifty day moving average is $5.83 and its 200-day moving average is $6.94.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.03. Analysts expect that Biomea Fusion will post -3.93 EPS for the current year.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its holdings in shares of Biomea Fusion by 156.3% during the 3rd quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after acquiring an additional 24,162 shares during the last quarter. Geode Capital Management LLC grew its holdings in Biomea Fusion by 0.7% during the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after purchasing an additional 4,291 shares during the last quarter. Wexford Capital LP raised its position in shares of Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock valued at $1,316,000 after purchasing an additional 27,619 shares during the period. FMR LLC lifted its stake in shares of Biomea Fusion by 0.7% in the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after buying an additional 39,959 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Biomea Fusion during the 3rd quarter worth $111,000. 96.72% of the stock is currently owned by 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.