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

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by equities research analysts at D. Boral Capital in a research note issued on Friday,Benzinga reports. They presently have a $128.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Scotiabank increased their price target on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research note on Friday, September 27th. Rodman & Renshaw raised shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Monday, December 16th. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, September 27th. Finally, Piper Sandler boosted their price objective on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $39.36.

Biomea Fusion Stock Down 6.8 %

Shares of Biomea Fusion stock opened at $3.98 on Friday. The company has a market cap of $144.23 million, a P/E ratio of -0.99 and a beta of -0.35. The firm’s 50 day moving average price is $5.83 and its 200-day moving average price is $6.95. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.03. As a group, equities research analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in Biomea Fusion during the second quarter worth $1,481,000. Griffin Asset Management Inc. raised its stake in shares of Biomea Fusion by 147.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock worth $970,000 after buying an additional 57,180 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Biomea Fusion during the 2nd quarter valued at approximately $237,000. XTX Topco Ltd acquired a new stake in Biomea Fusion in the 2nd quarter valued at $207,000. Finally, FMR LLC increased its holdings in Biomea Fusion by 0.7% in the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after acquiring an additional 39,959 shares in the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

About Biomea Fusion

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.