Biomea Fusion (NASDAQ:BMEA) Given “Buy” Rating at D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by equities researchers at D. Boral Capital in a report issued on Thursday,Benzinga reports. They presently have a $16.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. HC Wainwright lowered their target price on shares of Biomea Fusion from $40.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a report on Monday, March 24th. Finally, Barclays lowered their target price on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.60.

Biomea Fusion Trading Up 6.3%

Biomea Fusion stock opened at $1.52 on Thursday. The firm has a 50-day moving average price of $2.05 and a 200-day moving average price of $3.97. The firm has a market capitalization of $57.11 million, a PE ratio of -0.38 and a beta of -0.07. Biomea Fusion has a 12-month low of $1.38 and a 12-month high of $13.07.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.04. As a group, sell-side analysts predict that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Biomea Fusion by 156.3% during the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after purchasing an additional 24,162 shares in the last quarter. SG Americas Securities LLC bought a new position in Biomea Fusion in the fourth quarter worth approximately $58,000. Maia Wealth LLC bought a new position in Biomea Fusion in the fourth quarter worth approximately $62,000. PNC Financial Services Group Inc. raised its stake in Biomea Fusion by 14.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock worth $93,000 after buying an additional 3,005 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Biomea Fusion in the fourth quarter worth approximately $54,000. Institutional investors own 96.72% of the company’s stock.

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.