Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $53.25.

Several analysts recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $55.00 target price on shares of Biomea Fusion in a report on Monday, April 1st. Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Biomea Fusion in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on Biomea Fusion from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Biomea Fusion in a research note on Friday.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capstone Investment Advisors LLC acquired a new stake in Biomea Fusion in the first quarter valued at $182,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Biomea Fusion by 12.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock worth $232,000 after acquiring an additional 1,712 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Biomea Fusion by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock worth $103,000 after purchasing an additional 2,731 shares during the last quarter. Griffin Asset Management Inc. boosted its holdings in Biomea Fusion by 39.4% in the first quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock valued at $566,000 after purchasing an additional 10,700 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in Biomea Fusion in the fourth quarter valued at approximately $116,000. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Stock Up 3.5 %

Shares of Biomea Fusion stock opened at $12.35 on Monday. The firm has a market cap of $444.72 million, a PE ratio of -3.46 and a beta of -0.33. Biomea Fusion has a 52 week low of $8.13 and a 52 week high of $43.69. The business’s fifty day simple moving average is $14.22 and its 200-day simple moving average is $14.11.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Monday, April 1st. The company reported ($0.98) earnings per share for the quarter. As a group, equities analysts expect that Biomea Fusion will post -4.25 earnings per share for the current 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.