Biomea Fusion’s (BMEA) Buy Rating Reaffirmed at D. Boral Capital

D. Boral Capital restated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note released on Friday morning,Benzinga reports. They currently have a $16.00 price target on the stock.

A number of other brokerages have also recently weighed in on BMEA. Barclays reduced their price target on 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. Piper Sandler started coverage on Biomea Fusion in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $7.00 price objective on the stock. Oppenheimer set a $10.00 price objective on Biomea Fusion in a research note on Monday, March 24th. Finally, HC Wainwright dropped their price objective on Biomea Fusion from $40.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $21.40.

Biomea Fusion Price Performance

Shares of NASDAQ:BMEA opened at $2.36 on Friday. Biomea Fusion has a fifty-two week low of $1.29 and a fifty-two week high of $13.07. The business has a 50-day moving average of $1.88 and a two-hundred day moving average of $3.17. The stock has a market capitalization of $88.67 million, a P/E ratio of -0.59 and a beta of -0.23.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. As a group, research analysts expect that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its stake in Biomea Fusion by 8,058.5% during the first quarter. CWM LLC now owns 16,888 shares of the company’s stock valued at $36,000 after acquiring an additional 16,681 shares during the period. Cerity Partners LLC acquired a new stake in Biomea Fusion during the first quarter valued at approximately $37,000. Bayesian Capital Management LP acquired a new stake in Biomea Fusion during the fourth quarter valued at approximately $42,000. Wells Fargo & Company MN boosted its holdings in Biomea Fusion by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock valued at $50,000 after purchasing an additional 4,399 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Biomea Fusion during the fourth quarter valued at approximately $54,000. 96.72% of the stock is currently owned by 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.