Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $21.40 Average Target Price from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given an average rating of “Buy” by the eleven analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $21.40.

BMEA has been the topic of a number of analyst reports. HC Wainwright lowered their price objective on Biomea Fusion from $40.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Barclays lowered their target price on Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. D. Boral Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Tuesday, June 24th. Piper Sandler began coverage on Biomea Fusion in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, Oppenheimer set a $10.00 target price on Biomea Fusion in a report on Monday, March 24th.

Institutional Trading of Biomea Fusion

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its position in shares of Biomea Fusion by 398.2% during the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company’s stock worth $1,265,000 after buying an additional 474,862 shares during the period. Two Sigma Investments LP raised its position in Biomea Fusion by 104.4% in the 4th quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock valued at $2,173,000 after purchasing an additional 286,049 shares during the last quarter. Two Sigma Advisers LP raised its position in Biomea Fusion by 290.7% in the 4th quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock valued at $1,783,000 after purchasing an additional 341,900 shares during the last quarter. Renaissance Technologies LLC raised its position in Biomea Fusion by 317.7% in the 4th quarter. Renaissance Technologies LLC now owns 343,732 shares of the company’s stock valued at $1,334,000 after purchasing an additional 261,432 shares during the last quarter. Finally, Northern Trust Corp raised its position in Biomea Fusion by 3.9% in the 4th quarter. Northern Trust Corp now owns 322,650 shares of the company’s stock valued at $1,252,000 after purchasing an additional 12,210 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Price Performance

BMEA opened at $1.95 on Friday. Biomea Fusion has a fifty-two week low of $1.29 and a fifty-two week high of $13.07. The business has a 50-day moving average of $1.89 and a 200-day moving average of $2.68. The company has a market capitalization of $73.26 million, a PE ratio of -0.55 and a beta of -0.13.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. On average, equities research analysts expect that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

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.