Biomea Fusion (NASDAQ:BMEA) Price Target Raised to $15.00

Biomea Fusion (NASDAQ:BMEA) had its price target hoisted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

BMEA has been the subject of a number of other reports. Truist Financial reissued a buy rating and issued a $55.00 price target on shares of Biomea Fusion in a report on Monday, April 1st. Oppenheimer reiterated an outperform rating and issued a $70.00 target price on shares of Biomea Fusion in a research note on Wednesday, April 3rd. Finally, HC Wainwright reissued a buy rating and set a $50.00 target price on shares of Biomea Fusion in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $53.25.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $12.35 on Friday. The stock has a 50-day simple moving average of $14.22 and a 200 day simple moving average of $14.11. Biomea Fusion has a twelve month low of $8.13 and a twelve month high of $43.69. The stock has a market capitalization of $444.72 million, a PE ratio of -3.46 and a beta of -0.33.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Monday, April 1st. The company reported ($0.98) EPS for the quarter. As a group, equities research analysts forecast that Biomea Fusion will post -4.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC acquired a new position in shares of Biomea Fusion in the 1st quarter worth approximately $182,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Biomea Fusion by 12.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock valued at $232,000 after acquiring an additional 1,712 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Biomea Fusion by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after purchasing an additional 2,731 shares in the last quarter. Griffin Asset Management Inc. grew its holdings in shares of Biomea Fusion by 39.4% in the 1st quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock worth $566,000 after purchasing an additional 10,700 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Biomea Fusion during the 4th quarter worth about $116,000. Institutional investors own 96.72% of the company’s stock.

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.