Biomea Fusion (NASDAQ:BMEA) Price Target Increased to $15.00 by Analysts at JPMorgan Chase & Co.

Biomea Fusion (NASDAQ:BMEA) had its target price hoisted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial reissued a buy rating and set a $55.00 target price on shares of Biomea Fusion in a report on Monday, April 1st. Oppenheimer reiterated an outperform rating and set a $70.00 price target on shares of Biomea Fusion in a research report on Wednesday, April 3rd. Finally, HC Wainwright restated a buy rating and issued a $50.00 target price on shares of Biomea Fusion in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Biomea Fusion presently has an average rating of Moderate Buy and a consensus target price of $53.25.

Biomea Fusion Price Performance

Biomea Fusion stock opened at $12.26 on Friday. Biomea Fusion has a one year low of $8.13 and a one year high of $43.69. The firm has a 50-day moving average of $14.22 and a 200-day moving average of $14.11. The company has a market cap of $441.47 million, a price-to-earnings ratio of -3.43 and a beta of -0.33.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Monday, April 1st. The company reported ($0.98) EPS for the quarter. As a group, sell-side analysts expect that Biomea Fusion will post -4.25 earnings per share for the current year.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC bought a new position in Biomea Fusion during the fourth quarter worth $36,000. Grove Bank & Trust purchased a new position in Biomea Fusion in the fourth quarter valued at about $56,000. China Universal Asset Management Co. Ltd. boosted its stake in Biomea Fusion by 348.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock valued at $60,000 after acquiring an additional 3,210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Biomea Fusion by 89.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,744 shares of the company’s stock valued at $65,000 after acquiring an additional 2,242 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Biomea Fusion in the fourth quarter valued at about $79,000. 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.