Biomea Fusion, Inc. (NASDAQ:BMEA) Stock Has Consensus Target Price of $9.00 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Biomea Fusion, with five buy ratings and one sell rating among six covering firms. The average 12-month price target is $9.00, substantially above the stock’s recent $1.32 price.
• Biomea Fusion reported quarterly EPS of -$0.12, beating the consensus estimate of -$0.22; analysts expect a full-year EPS loss of approximately $0.73.
• Institutional investors own 96.72% of the company, with Renaissance Technologies increasing its position by 174.3% and BlackRock establishing a stake during the second quarter.

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.00.

Several equities research analysts recently commented on BMEA shares. Weiss Ratings downgraded Biomea Fusion from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, July 1st. HC Wainwright reissued a "buy" rating on shares of Biomea Fusion in a research note on Monday, August 24th. Finally, Wall Street Zen downgraded Biomea Fusion from a "hold" rating to a "sell" rating in a research note on Sunday.

Biomea Fusion Price Performance

Biomea Fusion stock opened at $1.32 on Monday. The stock's 50 day moving average is $1.51 and its 200 day moving average is $1.46. The company has a market capitalization of $95.67 million, a P/E ratio of -4.55 and a beta of -0.23. Biomea Fusion has a twelve month low of $0.87 and a twelve month high of $2.99.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.10. As a group, equities analysts expect that Biomea Fusion will post -0.73 EPS for the current year.

Institutional Trading of Biomea Fusion

Large investors have recently modified their holdings of the company. Rathbones Group PLC bought a new position in shares of Biomea Fusion during the 1st quarter worth approximately $57,000. ADAR1 Capital Management LLC purchased a new position in Biomea Fusion during the 2nd quarter worth approximately $64,000. GSA Capital Partners LLP acquired a new position in Biomea Fusion during the second quarter valued at $318,000. BlackRock Inc. purchased a new stake in shares of Biomea Fusion in the second quarter worth about $1,052,000. Finally, Renaissance Technologies LLC boosted its position in Biomea Fusion by 174.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company's stock worth $2,009,000 after purchasing an additional 834,179 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company's stock.

Biomea Fusion Company Profile

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for patients with cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to selectively target disease-associated proteins.

Biomea's lead investigational product is icovamenib, also known as BMF-219, an oral covalent inhibitor of menin. The company has evaluated icovamenib in clinical studies for genetically defined blood cancers, including acute leukemias and multiple myeloma, as well as for type 2 diabetes and other metabolic conditions.

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