Biomea Fusion (NASDAQ:BMEA) PT Raised to $40.00 at HC Wainwright

Biomea Fusion (NASDAQ:BMEA) had its price objective raised by analysts at HC Wainwright from $15.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 304.04% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Citigroup dropped their target price on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Scotiabank cut their target price 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. Piper Sandler lowered their target price on Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, June 7th. Oppenheimer cut their price target on Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, Capital One Financial began coverage on Biomea Fusion in a research note on Thursday, August 29th. They set an “overweight” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the 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 Trading Up 3.4 %

Biomea Fusion stock opened at $9.90 on Friday. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The stock has a 50 day moving average of $6.89 and a 200-day moving average of $8.96. The stock has a market cap of $358.48 million, a P/E ratio of -2.77 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, hitting the consensus estimate of ($1.03). As a group, equities analysts predict that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently modified their holdings of BMEA. Capstone Investment Advisors LLC acquired a new position in Biomea Fusion during the 1st quarter valued at about $182,000. Centaurus Financial Inc. bought a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $102,000. PNC Financial Services Group Inc. acquired a new position in shares of Biomea Fusion during the fourth quarter valued at approximately $116,000. SG Americas Securities LLC acquired a new position in shares of Biomea Fusion during the first quarter valued at approximately $462,000. Finally, Griffin Asset Management Inc. raised its holdings in Biomea Fusion by 39.4% during the first quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock worth $566,000 after purchasing an additional 10,700 shares in the last quarter. 96.72% of the stock is currently owned by 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.