Biomea Fusion (NASDAQ:BMEA) Given Buy Rating at D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $16.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research note on Monday, March 24th. Barclays lowered their price target on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a research note on Monday, March 31st. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $22.60.

Biomea Fusion Stock Down 8.3 %

BMEA opened at $2.00 on Tuesday. The business has a fifty day moving average of $2.25 and a 200 day moving average of $4.50. The stock has a market cap of $75.14 million, a P/E ratio of -0.50 and a beta of -0.07. Biomea Fusion has a 52-week low of $1.53 and a 52-week high of $13.43.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Monday, March 31st. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.19. Equities analysts anticipate that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new stake in shares of Biomea Fusion during the fourth quarter worth approximately $42,000. Wells Fargo & Company MN lifted its stake in shares of Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock worth $50,000 after buying an additional 4,399 shares in the last quarter. Intech Investment Management LLC acquired a new position in Biomea Fusion during the fourth quarter worth about $54,000. Maia Wealth LLC purchased a new stake in Biomea Fusion during the 4th quarter valued at about $62,000. Finally, SG Americas Securities LLC acquired a new stake in Biomea Fusion in the 4th quarter valued at about $58,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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.