Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $23.91 Consensus PT from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received a consensus recommendation of "Buy" from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $23.91.

A number of research analysts have recently commented on BMEA shares. D. Boral Capital reissued a "buy" rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Barclays dropped their price objective on shares of Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. HC Wainwright restated a "buy" rating and issued a $40.00 target price on shares of Biomea Fusion in a research report on Monday, March 31st. Finally, Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a report on Monday, March 24th.

Biomea Fusion Price Performance

BMEA traded down $0.12 during trading on Monday, hitting $2.19. 298,735 shares of the stock traded hands, compared to its average volume of 905,380. The business has a 50 day moving average price of $2.42 and a 200 day moving average price of $5.02. Biomea Fusion has a twelve month low of $1.53 and a twelve month high of $13.43. The company has a market cap of $82.09 million, a price-to-earnings ratio of -0.54 and a beta of -0.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.81) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.19. On average, equities research analysts predict that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Investors Weigh In On Biomea Fusion

Institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Biomea Fusion by 156.3% in the third quarter. Barclays PLC now owns 39,620 shares of the company's stock valued at $401,000 after acquiring an additional 24,162 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company's stock worth $6,076,000 after purchasing an additional 4,291 shares during the period. SG Americas Securities LLC bought a new stake in shares of Biomea Fusion in the 4th quarter valued at $58,000. Maia Wealth LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter worth $62,000. Finally, PNC Financial Services Group Inc. raised its stake in Biomea Fusion by 14.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company's stock worth $93,000 after buying an additional 3,005 shares during the last quarter. Institutional investors own 96.72% of the company's stock.

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.