Biomea Fusion (NASDAQ:BMEA) Price Target Increased to $9.00 by Analysts at Barclays

Biomea Fusion (NASDAQ:BMEA) had its price target upped by Barclays from $5.00 to $9.00 in a report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

BMEA has been the topic of several other reports. Oppenheimer cut their target price on shares of Biomea Fusion from $70.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, May 30th. Piper Sandler dropped their price objective on Biomea Fusion from $45.00 to $10.00 and set an overweight rating on the stock in a research note on Friday, June 7th. HC Wainwright reissued a buy rating and issued a $15.00 target price on shares of Biomea Fusion in a research note on Thursday, August 1st. Citigroup dropped their price target on Biomea Fusion from $45.00 to $22.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. Finally, Rodman & Renshaw upgraded 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. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Biomea Fusion currently has an average rating of Moderate Buy and a consensus price target of $29.40.

Biomea Fusion Trading Up 2.0 %

NASDAQ BMEA opened at $10.10 on Friday. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $22.74. The stock has a 50-day simple moving average of $6.99 and a 200 day simple moving average of $8.85. The company has a market capitalization of $363.04 million, a PE ratio of -2.83 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, meeting analysts’ consensus estimates of ($1.03). As a group, sell-side analysts predict that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in Biomea Fusion during the 2nd quarter worth approximately $109,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Biomea Fusion in the second quarter valued at approximately $36,000. Scientech Research LLC bought a new stake in shares of Biomea Fusion in the second quarter worth $46,000. Squarepoint Ops LLC acquired a new position in Biomea Fusion during the second quarter worth $237,000. Finally, DRW Securities LLC bought a new position in Biomea Fusion in the second quarter valued at $55,000. Institutional investors and hedge funds 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.