Biomea Fusion (NASDAQ:BMEA) Upgraded to “Buy” at Rodman & Renshaw

Rodman & Renshaw upgraded shares of Biomea Fusion (NASDAQ:BMEA) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat Ratings reports. Rodman & Renshaw currently has $18.00 price target on the stock.

Several other equities analysts also recently weighed in on BMEA. Piper Sandler dropped their price target 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. HC Wainwright reaffirmed a buy rating and set a $15.00 price target on shares of Biomea Fusion in a research note on Thursday, August 1st. Scotiabank cut their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating for the company in a research report on Friday, June 7th. Oppenheimer reduced their price objective on shares of Biomea Fusion from $70.00 to $60.00 and set an outperform rating on the stock in a research note on Thursday, May 30th. Finally, Citigroup decreased their price objective on Biomea Fusion from $45.00 to $22.00 and set a buy rating on the stock in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Biomea Fusion presently has an average rating of Moderate Buy and a consensus target price of $29.40.

Biomea Fusion Stock Up 3.4 %

BMEA opened at $9.90 on Thursday. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The firm has a market cap of $355.86 million, a price-to-earnings ratio of -2.77 and a beta of -0.47. The business’s 50 day moving average is $6.89 and its two-hundred day moving average is $8.90.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, hitting analysts’ consensus estimates of ($1.03). Equities analysts expect that Biomea Fusion will post -4.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Biomea Fusion during the 2nd quarter worth approximately $36,000. High Net Worth Advisory Group LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at $45,000. Scientech Research LLC bought a new position in shares of Biomea Fusion in the second 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. Finally, Quest Partners LLC bought a new stake in shares of Biomea Fusion during the fourth quarter worth $79,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

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.