HC Wainwright restated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA – Free Report) in a research note published on Thursday, Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.
A number of other analysts have also recently issued reports on BMEA. Oppenheimer dropped their price objective on Biomea Fusion from $70.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their price target on shares of Biomea Fusion from $14.00 to $15.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Truist Financial cut shares of Biomea Fusion from a buy rating to a hold rating in a research note on Tuesday, June 11th. Barclays downgraded shares of Biomea Fusion from an overweight rating to an equal weight rating and cut their price target for the company from $30.00 to $5.00 in a report on Friday, June 7th. Finally, Scotiabank decreased their price target on shares of Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating on the stock in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $28.25.
View Our Latest Analysis on Biomea Fusion
Biomea Fusion Price Performance
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, hitting the consensus estimate of ($1.03). As a group, sell-side analysts predict that Biomea Fusion will post -4.09 EPS for the current year.
Hedge Funds Weigh In On Biomea Fusion
A number of large investors have recently modified their holdings of BMEA. Signaturefd LLC purchased a new position in shares of Biomea Fusion during the fourth quarter worth approximately $36,000. High Net Worth Advisory Group LLC purchased a new position in Biomea Fusion in the 2nd quarter worth $45,000. Grove Bank & Trust bought a new stake in Biomea Fusion in the fourth quarter worth $56,000. China Universal Asset Management Co. Ltd. boosted its position in Biomea Fusion by 348.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock valued at $60,000 after buying an additional 3,210 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Biomea Fusion during the fourth quarter valued at about $79,000. 96.72% of the stock is owned by hedge funds and other institutional investors.
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.
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