Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Target Price at $21.40

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have earned a consensus rating of “Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.40.

A number of research analysts have commented on the company. HC Wainwright decreased their price target on Biomea Fusion from $40.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Oppenheimer set a $10.00 price target on Biomea Fusion in a research note on Monday, March 24th. Barclays decreased their price target on Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. D. Boral Capital restated a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a research note on Friday. Finally, Piper Sandler assumed coverage on Biomea Fusion in a research note on Tuesday, June 3rd. They set an “overweight” rating and a $7.00 price target on the stock.

Biomea Fusion Stock Performance

BMEA stock opened at $2.36 on Tuesday. The firm has a market cap of $88.67 million, a PE ratio of -0.59 and a beta of -0.23. The firm’s 50 day moving average price is $1.88 and its 200-day moving average price is $3.15. Biomea Fusion has a one year low of $1.29 and a one year high of $13.07.

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

Institutional Trading of Biomea Fusion

Large investors have recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of Biomea Fusion by 3.9% during the fourth quarter. Northern Trust Corp now owns 322,650 shares of the company’s stock worth $1,252,000 after acquiring an additional 12,210 shares during the period. Wellington Management Group LLP acquired a new position in shares of Biomea Fusion during the fourth quarter worth $317,000. Two Sigma Investments LP grew its stake in shares of Biomea Fusion by 104.4% during the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock worth $2,173,000 after purchasing an additional 286,049 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Biomea Fusion during the fourth quarter worth $453,000. Finally, Barclays PLC grew its stake in shares of Biomea Fusion by 18.4% during the fourth quarter. Barclays PLC now owns 46,904 shares of the company’s stock worth $182,000 after purchasing an additional 7,284 shares in the last quarter. Hedge funds and other 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.