Biomea Fusion (NASDAQ:BMEA) Earns "Buy" Rating from D. Boral Capital

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

Several other analysts also recently issued reports on BMEA. HC Wainwright reiterated a "buy" rating and issued a $40.00 price target on shares of Biomea Fusion in a research report on Monday, March 31st. Oppenheimer set a $10.00 price target on Biomea Fusion in a report on Monday, March 24th. Finally, Barclays decreased their price objective on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Biomea Fusion has a consensus rating of "Buy" and a consensus price target of $22.60.

Biomea Fusion Price Performance

Biomea Fusion stock traded down $0.12 during mid-day trading on Tuesday, reaching $1.63. The company had a trading volume of 538,214 shares, compared to its average volume of 911,376. The stock's 50-day simple moving average is $2.16 and its 200-day simple moving average is $4.28. The company has a market capitalization of $61.13 million, a P/E ratio of -0.41 and a beta of -0.07. Biomea Fusion has a 1 year low of $1.53 and a 1 year high of $13.43.

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

Institutional Investors Weigh In On Biomea Fusion

Hedge funds have recently modified their holdings of the stock. Bayesian Capital Management LP acquired a new position in shares of Biomea Fusion in the 4th quarter valued at $42,000. Wells Fargo & Company MN boosted its holdings in Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock valued at $50,000 after acquiring an additional 4,399 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Biomea Fusion during the fourth quarter valued at about $54,000. Maia Wealth LLC acquired a new stake in Biomea Fusion during the fourth quarter worth about $62,000. Finally, SG Americas Securities LLC purchased a new position in shares of Biomea Fusion in the 4th quarter worth about $58,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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.