Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $28.25 Consensus Target Price from Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $28.25.

BMEA has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Biomea Fusion from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Barclays lowered shares of Biomea Fusion from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $30.00 to $5.00 in a research report on Friday, June 7th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Biomea Fusion in a research report on Thursday, August 1st. Scotiabank lowered their price target on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Friday, June 7th. Finally, Citigroup lowered their price target on shares of Biomea Fusion from $90.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 7th.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds have recently bought and sold shares of the company. Scientech Research LLC bought a new position in Biomea Fusion in the 2nd quarter valued at about $46,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion in the 2nd quarter valued at about $36,000. Squarepoint Ops LLC bought a new position in Biomea Fusion in the 2nd quarter valued at about $237,000. Cubist Systematic Strategies LLC bought a new position in Biomea Fusion in the 2nd quarter valued at about $109,000. Finally, DRW Securities LLC bought a new position in Biomea Fusion in the 2nd quarter valued at about $55,000. 96.72% of the stock is owned by institutional investors.

Biomea Fusion Price Performance

Shares of BMEA stock opened at $5.87 on Wednesday. The stock has a market cap of $211.00 million, a P/E ratio of -1.64 and a beta of -0.52. The company has a fifty day moving average price of $5.26 and a two-hundred day moving average price of $10.74. Biomea Fusion has a one year low of $3.61 and a one year high of $22.74.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, meeting analysts’ consensus estimates of ($1.03). As a group, equities research analysts anticipate that Biomea Fusion will post -4.09 EPS for the current fiscal year.

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.