Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $28.25

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.25.

A number of analysts recently issued reports on the company. Truist Financial lowered Biomea Fusion from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. JPMorgan Chase & Co. boosted their price objective on shares of Biomea Fusion from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Citigroup reduced their price objective on shares of Biomea Fusion from $90.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Piper Sandler reduced their price target on Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, June 7th. Finally, Oppenheimer reduced their price target on Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th.

Institutional Investors Weigh In On Biomea Fusion

Hedge funds have recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of Biomea Fusion during the 4th quarter worth about $36,000. Grove Bank & Trust purchased a new stake in shares of Biomea Fusion during the 4th quarter worth about $56,000. China Universal Asset Management Co. Ltd. raised its position in shares of Biomea Fusion by 348.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after purchasing an additional 3,210 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Biomea Fusion during the 4th quarter worth about $79,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Biomea Fusion during the 4th quarter worth about $102,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Trading Down 0.7 %

BMEA opened at $4.50 on Tuesday. The firm has a market cap of $161.73 million, a P/E ratio of -1.26 and a beta of -0.35. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $23.92. The stock has a 50-day moving average of $9.33 and a 200 day moving average of $13.36.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.07). On average, research analysts forecast that Biomea Fusion will post -4.09 earnings per share for the current fiscal 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.