D. Boral Capital Cuts Biomea Fusion (NASDAQ:BMEA) Price Target to $12.00

Biomea Fusion (NASDAQ:BMEA) had its price target cut by D. Boral Capital from $16.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on BMEA. Citigroup lowered their price objective on shares of Biomea Fusion from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Oppenheimer restated an “outperform” rating on shares of Biomea Fusion in a report on Tuesday, August 5th. Jefferies Financial Group started coverage on Biomea Fusion in a report on Thursday, August 28th. They set a “buy” rating and a $5.00 price objective on the stock. Scotiabank decreased their price objective on Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Biomea Fusion has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Biomea Fusion Price Performance

Shares of NASDAQ:BMEA opened at $1.37 on Wednesday. The firm’s 50 day simple moving average is $1.77 and its 200 day simple moving average is $1.83. Biomea Fusion has a fifty-two week low of $1.22 and a fifty-two week high of $8.47. The company has a market capitalization of $96.86 million, a price-to-earnings ratio of -0.57 and a beta of -0.16.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.01). Equities research analysts expect that Biomea Fusion will post -3.93 earnings per share for the current year.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock valued at $4,384,000 after purchasing an additional 290,376 shares during the last quarter. Aisling Capital Management LP grew its position in Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after purchasing an additional 1,250,000 shares in the last quarter. Federated Hermes Inc. increased its stake in Biomea Fusion by 398.2% in the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company’s stock valued at $1,265,000 after buying an additional 474,862 shares during the last quarter. Nuveen LLC acquired a new stake in Biomea Fusion in the 1st quarter valued at $575,000. Finally, AQR Capital Management LLC lifted its position in Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock worth $562,000 after buying an additional 229,763 shares in the last quarter. 96.72% of the stock is owned by institutional investors.

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.