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

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $16.00 price target on the stock.

A number of other research firms also recently weighed in on BMEA. Barclays reduced their price target on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. HC Wainwright reaffirmed 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 objective on Biomea Fusion in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $22.60.

Biomea Fusion Trading Down 7.0 %

Shares of BMEA stock traded down $0.12 during trading hours on Tuesday, hitting $1.63. 538,214 shares of the company were exchanged, compared to its average volume of 909,892. Biomea Fusion has a 52 week low of $1.53 and a 52 week high of $13.43. The business has a 50 day moving average of $2.16 and a two-hundred day moving average of $4.32. The company has a market capitalization of $61.13 million, a PE ratio of -0.41 and a beta of -0.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.84) by $0.04. On average, research analysts forecast that Biomea Fusion will post -3.93 EPS for the current year.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Biomea Fusion in the 4th quarter valued at $317,000. Barclays PLC grew its stake in shares of 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 in the last quarter. SG Americas Securities LLC bought a new position in Biomea Fusion during the fourth quarter worth about $58,000. Virtu Financial LLC bought a new stake in Biomea Fusion in the 4th quarter valued at about $103,000. Finally, Walleye Capital LLC acquired a new position in shares of Biomea Fusion during the 4th quarter worth approximately $914,000. 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.