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

Key Points

• Biomea Fusion's stock rating was reaffirmed as a "buy" by D. Boral Capital, with a price target of $16.00, while the average price target among analysts is $9.50.
• Recent earnings showed Biomea Fusion surpassing expectations with a reported EPS of ($0.51), compared to the consensus estimate of ($0.59).
• The company has seen significant institutional investment, with notable increases in stakes from Aisling Capital and Federated Hermes, marking a 156.5% and 398.2% growth, respectively.

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating restated by equities researchers at D. Boral Capital in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $16.00 price target on the stock.

Several other equities analysts have also issued reports on the company. Citigroup lowered their price target on Biomea Fusion from $9.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Jefferies Financial Group started coverage on Biomea Fusion in a report on Thursday, August 28th. They issued a "buy" rating and a $5.00 price objective for the company. Scotiabank reduced their price objective on Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating for the company in a report on Wednesday, August 6th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Biomea Fusion in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $9.50.

Biomea Fusion Price Performance

BMEA opened at $2.13 on Friday. The stock has a 50-day moving average price of $1.84 and a 200-day moving average price of $1.92. The firm has a market cap of $126.76 million, a PE ratio of -0.70 and a beta of -0.12. Biomea Fusion has a 1 year low of $1.29 and a 1 year high of $13.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.08. As a group, sell-side analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Investors Weigh In On Biomea Fusion

A number of large investors have recently made changes to their positions in the company. Aisling Capital Management LP grew its stake in shares of Biomea Fusion by 156.5% during the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company's stock valued at $3,688,000 after purchasing an additional 1,250,000 shares during the period. Federated Hermes Inc. grew its stake in shares of Biomea Fusion by 398.2% during the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company's stock valued at $1,265,000 after purchasing an additional 474,862 shares during the period. Nuveen LLC bought a new stake in shares of Biomea Fusion during the 1st quarter valued at about $575,000. AQR Capital Management LLC grew its stake in shares of Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company's stock valued at $562,000 after purchasing an additional 229,763 shares during the period. Finally, Scotia Capital Inc. bought a new stake in shares of Biomea Fusion during the 2nd quarter valued at about $459,000. 96.72% of the stock is currently owned by institutional investors.

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.

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