Biomea Fusion, Inc. to Post Q3 2024 Earnings of ($1.08) Per Share, Capital One Financial Forecasts (NASDAQ:BMEA)

Biomea Fusion, Inc. (NASDAQ:BMEA) – Equities research analysts at Capital One Financial issued their Q3 2024 earnings per share estimates for shares of Biomea Fusion in a research report issued on Thursday, August 29th. Capital One Financial analyst N. Quibria anticipates that the company will post earnings per share of ($1.08) for the quarter. Capital One Financial has a “Overweight” rating and a $25.00 price objective on the stock. The consensus estimate for Biomea Fusion’s current full-year earnings is ($4.09) per share. Capital One Financial also issued estimates for Biomea Fusion’s Q4 2024 earnings at ($1.04) EPS, FY2024 earnings at ($4.24) EPS, FY2025 earnings at ($3.33) EPS, FY2026 earnings at ($3.16) EPS, FY2027 earnings at ($2.97) EPS and FY2028 earnings at ($1.51) EPS.

Several other research firms also recently commented on BMEA. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Biomea Fusion in a report on Thursday, August 1st. Piper Sandler dropped their target price on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, June 7th. Citigroup lowered their target price on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Barclays lowered shares of Biomea Fusion from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $30.00 to $5.00 in a research report on Friday, June 7th. Finally, Truist Financial lowered Biomea Fusion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Biomea Fusion has a consensus rating of “Moderate Buy” and a consensus target price of $25.33.

Biomea Fusion Trading Down 0.5 %

NASDAQ:BMEA opened at $7.29 on Monday. Biomea Fusion has a 1 year low of $3.61 and a 1 year high of $22.74. The stock has a 50-day moving average price of $5.69 and a two-hundred day moving average price of $10.00. The stock has a market cap of $262.04 million, a price-to-earnings ratio of -2.04 and a beta of -0.52.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.03).

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of Biomea Fusion in the fourth quarter valued at about $79,000. China Universal Asset Management Co. Ltd. increased its holdings in Biomea Fusion by 66.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after buying an additional 2,731 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Biomea Fusion during the 4th quarter valued at about $102,000. PNC Financial Services Group Inc. acquired a new stake in Biomea Fusion in the fourth quarter worth about $116,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Biomea Fusion in the second quarter worth about $36,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.