D. Boral Capital Reaffirms Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a research report issued on Tuesday,Benzinga reports. They presently have a $128.00 price target on the stock.

A number of other research analysts have also commented on the company. Citigroup lowered their price objective on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a report on Thursday, November 21st. Barclays upped their price objective on shares of Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Rodman & Renshaw upgraded shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, September 26th. Finally, Truist Financial upgraded shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $39.36.

Biomea Fusion Stock Performance

Shares of BMEA opened at $5.79 on Tuesday. The firm has a market cap of $209.83 million, a PE ratio of -1.44 and a beta of -0.53. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $20.21. The firm’s 50 day moving average price is $8.94 and its 200 day moving average price is $7.49.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.03. On average, sell-side analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biomea Fusion news, Director Michael J.M. Hitchcock bought 10,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $10.06 per share, with a total value of $100,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $150,900. The trade was a 200.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 27.57% of the company’s stock.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Biomea Fusion by 156.3% during the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after buying an additional 24,162 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after buying an additional 4,291 shares during the period. Wexford Capital LP increased its position in Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock worth $1,316,000 after purchasing an additional 27,619 shares during the period. FMR LLC raised its holdings in Biomea Fusion by 0.7% during the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after purchasing an additional 39,959 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Biomea Fusion in the 3rd quarter valued at about $111,000. Institutional investors own 96.72% of the company’s stock.

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.