Biomea Fusion's (BMEA) Buy Rating Reaffirmed at D. Boral Capital

Key Points

• D. Boral Capital reaffirmed a Buy rating on Biomea Fusion and set a price target of $12.00.
• MarketBeat shows a consensus of "Moderate Buy" with an average price target of $8.63, while BMEA trades around $1.24 with a market cap of $87.31 million, highlighting a large gap between current valuation and analyst targets.
• Biomea Fusion reported quarterly EPS of $0.27, beating estimates of (‑$0.25) by $0.52, though analysts still project a ‑3.93 EPS for the fiscal year; the company is a clinical‑stage biotech whose lead asset is BMF‑219, a menin–MLL inhibitor.

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating reaffirmed by D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Rodman & Renshaw initiated coverage on Biomea Fusion in a report on Tuesday, January 13th. They issued a "buy" rating and a $8.00 price objective for the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Biomea Fusion presently has a consensus rating of "Moderate Buy" and an average price target of $8.63.

Biomea Fusion Stock Performance

BMEA traded up $0.11 on Wednesday, hitting $1.24. 1,122,968 shares of the company were exchanged, compared to its average volume of 1,124,714. The stock's fifty day moving average is $1.30 and its 200-day moving average is $1.43. Biomea Fusion has a 12 month low of $0.87 and a 12 month high of $3.08. The company has a market cap of $87.31 million, a PE ratio of -0.52 and a beta of -0.20.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 24th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.52. As a group, equities research analysts expect that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Several hedge funds have recently bought and sold shares of the stock. Griffin Asset Management Inc. raised its stake in Biomea Fusion by 19.5% in the third quarter. Griffin Asset Management Inc. now owns 61,300 shares of the company's stock valued at $124,000 after purchasing an additional 10,000 shares in the last quarter. Scientech Research LLC acquired a new stake in Biomea Fusion during the third quarter worth about $25,000. Engineers Gate Manager LP acquired a new stake in Biomea Fusion during the second quarter worth about $26,000. Millennium Management LLC increased its holdings in Biomea Fusion by 156.7% in the 4th quarter. Millennium Management LLC now owns 25,677 shares of the company's stock valued at $32,000 after buying an additional 15,675 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Biomea Fusion in the 3rd quarter valued at about $32,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

About Biomea Fusion

Biomea Fusion, Inc NASDAQ: BMEA is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company's lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.

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