Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) 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.

Hedge Funds Weigh In On Biomea Fusion

Several institutional investors have recently modified their holdings of BMEA. Signaturefd LLC bought a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $36,000. Grove Bank & Trust bought a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $56,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Biomea Fusion by 348.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock valued at $60,000 after acquiring an additional 3,210 shares in the last quarter. Quest Partners LLC bought a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $79,000. Finally, Centaurus Financial Inc. bought a new position in Biomea Fusion during the fourth quarter valued at $102,000. 96.72% of the stock is owned by institutional investors.

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) 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.