Shares of Biomea Fusion, Inc. (NASDAQ:BMEA – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.25.
A number of brokerages recently commented on BMEA. Piper Sandler decreased their target price on Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, June 7th. Barclays lowered Biomea Fusion from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $30.00 to $5.00 in a report on Friday, June 7th. Scotiabank decreased their price objective on Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating for the company in a report on Friday, June 7th. JPMorgan Chase & Co. boosted their price objective on Biomea Fusion from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Truist Financial lowered Biomea Fusion from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th.
Check Out Our Latest Stock Report on BMEA
Hedge Funds Weigh In On Biomea Fusion
Biomea Fusion Price Performance
Shares of Biomea Fusion stock opened at $4.42 on Tuesday. Biomea Fusion has a one year low of $3.61 and a one year high of $23.92. The firm has a market capitalization of $158.85 million, a price-to-earnings ratio of -1.24 and a beta of -0.52. The business has a 50-day simple moving average of $9.20 and a 200 day simple moving average of $13.29.
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). On average, sell-side analysts expect that Biomea Fusion will post -4.09 EPS for the current 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.
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