Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $14.80 Average Target Price from Analysts

Key Points

• Biomea Fusion, Inc. has a consensus rating of "Buy" from twelve analysts, with an average 12-month target price of $14.80.
• Recent target price adjustments include a reduction by Scotiabank to $10.00 and an overweight rating from Piper Sandler with a price objective of $7.00.
• Institutional investors hold 96.72% of Biomea Fusion's stock, indicating strong support from large financial entities.

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have earned a consensus rating of "Buy" from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.80.

A number of research firms have recently issued reports on BMEA. Citigroup reduced their price target on shares of Biomea Fusion from $9.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Oppenheimer reaffirmed an "outperform" rating on shares of Biomea Fusion in a research note on Tuesday, August 5th. Piper Sandler initiated coverage on shares of Biomea Fusion in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $7.00 target price for the company. Scotiabank lowered their price objective on shares of Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating for the company in a research note on Wednesday, August 6th. Finally, D. Boral Capital reissued a "buy" rating and set a $16.00 price objective on shares of Biomea Fusion in a research note on Wednesday, August 6th.

Biomea Fusion Trading Down 6.3%

Shares of BMEA traded down $0.13 during mid-day trading on Thursday, hitting $1.95. 1,434,512 shares of the company's stock were exchanged, compared to its average volume of 1,283,865. Biomea Fusion has a fifty-two week low of $1.29 and a fifty-two week high of $13.07. The firm has a market capitalization of $116.04 million, a P/E ratio of -0.64 and a beta of -0.13. The business's 50 day moving average is $1.81 and its two-hundred day moving average is $1.96.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.08. On average, equities research analysts forecast that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors have recently modified their holdings of the stock. Marex Group plc bought a new stake in shares of Biomea Fusion during the 2nd quarter valued at about $81,000. Engineers Gate Manager LP bought a new stake in Biomea Fusion during the second quarter worth approximately $26,000. Bridgeway Capital Management LLC boosted its holdings in Biomea Fusion by 99.2% during the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company's stock worth $127,000 after buying an additional 35,000 shares in the last quarter. Aisling Capital Management LP lifted its position in shares of Biomea Fusion by 156.5% in the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company's stock valued at $3,688,000 after acquiring an additional 1,250,000 shares in the last quarter. Finally, Scotia Capital Inc. purchased a new stake in shares of Biomea Fusion in the 2nd quarter valued at approximately $459,000. Institutional investors and hedge funds own 96.72% of the company's stock.

About Biomea Fusion

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.