Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $8.50 Average Price Target from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.50.

BMEA has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating for the company. Wall Street Zen cut shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Citizens Jmp started coverage on shares of Biomea Fusion in a report on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 price target for the company. Weiss Ratings cut shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of Biomea Fusion in a research note on Tuesday, April 28th.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds have recently modified their holdings of the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Biomea Fusion during the 4th quarter worth approximately $783,000. State Street Corp raised its holdings in Biomea Fusion by 17.8% during the 4th quarter. State Street Corp now owns 165,115 shares of the company’s stock worth $205,000 after buying an additional 25,000 shares during the period. Bridgeway Capital Management LLC lifted its stake in Biomea Fusion by 99.2% in the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after buying an additional 35,000 shares in the last quarter. Barclays PLC lifted its stake in Biomea Fusion by 1,731.0% in the fourth quarter. Barclays PLC now owns 59,013 shares of the company’s stock valued at $73,000 after buying an additional 55,790 shares in the last quarter. Finally, Jain Global LLC acquired a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Trading Up 1.5%

Shares of BMEA opened at $1.33 on Wednesday. The stock has a market cap of $96.16 million, a P/E ratio of -1.96 and a beta of -0.31. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $2.99. The stock’s 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.39.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. As a group, equities analysts forecast that Biomea Fusion will post -0.82 EPS for the current year.

Biomea Fusion Company Profile

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.