Biomea Fusion (NASDAQ:BMEA) Earns Buy Rating from D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a report released on Friday,Benzinga reports. They currently have a $16.00 target price on the stock.

Several other brokerages also recently weighed in on BMEA. Citigroup reduced their price target on Biomea Fusion from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Jefferies Financial Group initiated coverage on Biomea Fusion in a research note on Thursday, August 28th. They issued a “buy” rating and a $5.00 target price on the stock. Scotiabank lowered their target price on shares of Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 6th. Finally, Oppenheimer restated an “outperform” rating on shares of Biomea Fusion in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biomea Fusion presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $2.15 on Friday. The stock has a 50 day moving average price of $1.85 and a 200-day moving average price of $1.91. Biomea Fusion has a one year low of $1.29 and a one year high of $13.07. The company has a market capitalization of $127.95 million, a P/E ratio of -0.71 and a beta of -0.12.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.08. As a group, equities analysts predict that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of Biomea Fusion by 98.0% during the fourth quarter. Bank of America Corp DE now owns 51,180 shares of the company’s stock worth $199,000 after purchasing an additional 25,332 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Biomea Fusion during the 4th quarter worth $317,000. Exchange Traded Concepts LLC grew its holdings in shares of Biomea Fusion by 140.9% during the first quarter. Exchange Traded Concepts LLC now owns 50,550 shares of the company’s stock worth $108,000 after buying an additional 29,565 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Biomea Fusion by 90.0% in the first quarter. Oppenheimer & Co. Inc. now owns 165,937 shares of the company’s stock valued at $353,000 after buying an additional 78,579 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Biomea Fusion in the first quarter worth about $37,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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.