Biomea Fusion (NASDAQ:BMEA) Price Target Increased to $40.00 by Analysts at HC Wainwright

Biomea Fusion (NASDAQ:BMEA) had its price objective raised by HC Wainwright from $15.00 to $40.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also commented on the stock. Scotiabank lowered their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating on the stock in a research note on Friday, June 7th. Barclays lifted their price target on Biomea Fusion from $5.00 to $9.00 and gave the company an equal weight rating in a research report on Friday. Truist Financial raised Biomea Fusion from a hold rating to a buy rating and set a $54.00 target price for the company in a research note on Friday. Citigroup dropped their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. Finally, Piper Sandler reduced their price objective on shares of Biomea Fusion from $45.00 to $10.00 and set an overweight rating for the company in a research report on Friday, June 7th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $29.40.

Biomea Fusion Price Performance

Shares of Biomea Fusion stock opened at $10.10 on Friday. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74. The company has a market capitalization of $363.04 million, a P/E ratio of -2.83 and a beta of -0.47. The business’s fifty day moving average price is $6.99 and its two-hundred day moving average price is $8.85.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, hitting the consensus estimate of ($1.03). On average, research analysts expect that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.

Institutional Trading of Biomea Fusion

Several institutional investors and hedge funds have recently bought and sold shares of BMEA. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Biomea Fusion in the second quarter worth about $36,000. High Net Worth Advisory Group LLC purchased a new stake in shares of Biomea Fusion in the 2nd quarter valued at approximately $45,000. Scientech Research LLC acquired a new position in Biomea Fusion in the 2nd quarter worth approximately $46,000. DRW Securities LLC purchased a new position in Biomea Fusion during the 2nd quarter worth approximately $55,000. Finally, Centaurus Financial Inc. acquired a new stake in Biomea Fusion during the 4th quarter valued at $102,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.