Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $40.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 255.87% from the stock's current price.
BMEA has been the topic of several other reports. RODMAN&RENSHAW raised Biomea Fusion to a "strong-buy" rating in a research report on Thursday, September 26th. Barclays increased their target price on Biomea Fusion from $5.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, September 27th. Citigroup decreased their price target on Biomea Fusion from $45.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Truist Financial raised Biomea Fusion from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a research note on Friday, September 27th. Finally, Capital One Financial began coverage on Biomea Fusion in a research note on Thursday, August 29th. They issued an "overweight" rating and a $25.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Biomea Fusion has an average rating of "Buy" and an average target price of $29.40.
View Our Latest Research Report on BMEA
Shares of BMEA opened at $11.24 on Tuesday. The firm has a market cap of $404.02 million, a price-to-earnings ratio of -3.15 and a beta of -0.43. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $22.74. The business's 50 day moving average is $8.52 and its two-hundred day moving average is $8.38.
Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.03). On average, equities analysts expect that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.
In related news, Director Michael J.M. Hitchcock acquired 10,000 shares of the stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $10.06 per share, with a total value of $100,600.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $150,900. The trade was a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 27.57% of the company's stock.
Several institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion in the 2nd quarter valued at $36,000. High Net Worth Advisory Group LLC acquired a new stake in shares of Biomea Fusion during the second quarter worth $45,000. Scientech Research LLC acquired a new stake in shares of Biomea Fusion during the second quarter worth $46,000. DRW Securities LLC acquired a new position in Biomea Fusion in the second quarter valued at about $55,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Biomea Fusion in the second quarter valued at about $109,000. Institutional investors and hedge funds own 96.72% of the company's stock.
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.
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