Biomea Fusion, Inc. (NASDAQ:BMEA) Stock Has Consensus Target Price of $7.60 According to Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.60.

Several research firms have weighed in on BMEA. Wall Street Zen lowered Biomea Fusion from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Biomea Fusion in a report on Wednesday, October 14th. Citizens Jmp restated a “market outperform” rating and set a $7.00 target price on shares of Biomea Fusion in a research report on Wednesday, October 14th. Brookline Capital Markets began coverage on Biomea Fusion in a research note on Wednesday, October 7th. They issued a “buy” rating for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its holdings in Biomea Fusion by 174.3% in the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after purchasing an additional 834,179 shares during the period. BlackRock Inc. bought a new position in shares of Biomea Fusion during the second quarter worth $1,052,000. GSA Capital Partners LLP acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $318,000. ADAR1 Capital Management LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $64,000. Finally, Rathbones Group PLC acquired a new position in shares of Biomea Fusion in the 1st quarter valued at $57,000. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Price Performance

BMEA stock opened at $0.60 on Friday. The business’s fifty day moving average is $1.44 and its 200-day moving average is $1.43. The company has a market cap of $43.50 million, a P/E ratio of -2.07 and a beta of -0.28. Biomea Fusion has a twelve month low of $0.58 and a twelve month high of $2.24.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.10. Research analysts anticipate that Biomea Fusion will post -0.65 earnings per share for the current fiscal year.

Biomea Fusion Company Profile

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets.

Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.