Biomea Fusion (NASDAQ:BMEA) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Biomea Fusion (NASDAQ:BMEA) issued its quarterly earnings results on Monday. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.19, Zacks reports.

Biomea Fusion Stock Down 7.4 %

Shares of Biomea Fusion stock opened at $2.13 on Tuesday. Biomea Fusion has a 52 week low of $2.07 and a 52 week high of $16.29. The business has a 50 day moving average price of $3.28 and a 200-day moving average price of $5.96. The company has a market cap of $77.19 million, a PE ratio of -0.53 and a beta of -0.26.

Analyst Upgrades and Downgrades

BMEA has been the subject of a number of research reports. Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a report on Monday, March 24th. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Biomea Fusion in a research report on Monday. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Biomea Fusion in a research report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Biomea Fusion currently has a consensus rating of “Buy” and a consensus price target of $24.64.

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.