Biomea Fusion (NASDAQ:BMEA) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Biomea Fusion (NASDAQ:BMEA) posted its quarterly earnings results on Monday. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.19, Zacks reports.

Biomea Fusion Trading Down 7.4 %

BMEA opened at $2.13 on Tuesday. The stock has a market capitalization of $77.19 million, a P/E ratio of -0.53 and a beta of -0.26. Biomea Fusion has a 12-month low of $2.07 and a 12-month high of $16.29. The stock has a 50-day moving average price of $3.28 and a 200-day moving average price of $5.96.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BMEA shares. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a research report on Monday. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a research note on Monday, March 24th. Finally, D. Boral Capital restated a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Biomea Fusion currently has a consensus rating of “Buy” and a consensus price target of $24.64.

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.