Biomea Fusion’s (BMEA) Buy Rating Reaffirmed at 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 report issued on Friday,Benzinga reports. They presently have a $128.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler upped their target price on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Truist Financial upgraded 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. Rodman & Renshaw upgraded Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday, September 26th. Finally, Barclays increased their target price on Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Biomea Fusion currently has a consensus rating of “Buy” and a consensus target price of $39.36.

Biomea Fusion Price Performance

BMEA opened at $4.27 on Friday. The firm has a 50 day simple moving average of $5.93 and a 200 day simple moving average of $6.95. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $20.21. The company has a market cap of $154.74 million, a price-to-earnings ratio of -1.06 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.03. As a group, analysts expect that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently made changes to their positions in BMEA. Point72 Asia Singapore Pte. Ltd. acquired a new position in Biomea Fusion during the second quarter worth $36,000. Scientech Research LLC bought a new stake in shares of Biomea Fusion in the 2nd quarter valued at about $46,000. DRW Securities LLC acquired a new stake in Biomea Fusion in the 2nd quarter valued at about $55,000. China Universal Asset Management Co. Ltd. raised its stake in Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock valued at $70,000 after buying an additional 2,741 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at approximately $109,000. 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.