Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $8.29

by · The Cerbat Gem

Biomea Fusion, Inc. (NASDAQ:BMEA – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.2857.

Several equities analysts recently issued reports on BMEA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a report on Monday, April 20th. D. Boral Capital restated a “buy” rating and set a $12.00 target price on shares of Biomea Fusion in a report on Tuesday, April 28th. Wall Street Zen cut Biomea Fusion from a “hold” rating to a “sell” rating in a report on Saturday. Citizens Jmp started coverage on Biomea Fusion in a report on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 target price on the stock. Finally, Citigroup started coverage on Biomea Fusion in a report on Tuesday, May 5th. They set an “outperform” rating on the stock.

Check Out Our Latest Research Report on Biomea Fusion

Biomea Fusion Price Performance

Biomea Fusion stock opened at $1.38 on Tuesday. The stock has a fifty day moving average price of $1.55 and a two-hundred day moving average price of $1.38. Biomea Fusion has a 52-week low of $0.87 and a 52-week high of $3.08. The firm has a market capitalization of $99.77 million, a P/E ratio of -2.03 and a beta of -0.32.

Biomea Fusion (NASDAQ:BMEA – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. On average, equities research analysts predict that Biomea Fusion will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently bought and sold shares of BMEA. AQR Capital Management LLC raised its position in Biomea Fusion by 670.5% in the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after buying an additional 229,763 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Biomea Fusion by 99.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after buying an additional 35,000 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Biomea Fusion in the 2nd quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Biomea Fusion in the 3rd quarter valued at approximately $32,000. Finally, Vanguard Group Inc. raised its position in Biomea Fusion by 15.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock valued at $4,384,000 after buying an additional 290,376 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

About Biomea Fusion

(Get Free Report)

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.

Read More