Biomea Fusion (NASDAQ:BMEA) Posts Earnings Results, Beats Estimates By $0.03 EPS

Biomea Fusion (NASDAQ:BMEA) posted its earnings results on Tuesday. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03, Briefing.com reports.

Biomea Fusion Price Performance

NASDAQ:BMEA opened at $9.37 on Friday. Biomea Fusion has a 12-month low of $3.61 and a 12-month high of $22.74. The firm has a 50-day moving average price of $9.39 and a 200 day moving average price of $8.36.

Insider Buying and Selling at Biomea Fusion

In related news, Director Michael J.M. Hitchcock bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $150,900. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 27.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Friday, September 27th. Piper Sandler increased their target price on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a research report on Thursday. Finally, Rodman & Renshaw raised shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, September 26th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Biomea Fusion has a consensus rating of “Buy” and a consensus target price of $30.50.

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.