Biomea Fusion’s (BMEA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $40.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. RODMAN&RENSHAW upgraded shares of Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Piper Sandler boosted their target price on shares of Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Scotiabank raised their price target on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research report on Friday, September 27th. Barclays boosted their price objective on Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, EF Hutton Acquisition Co. I raised Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $39.36.

Biomea Fusion Price Performance

Biomea Fusion stock opened at $4.15 on Tuesday. Biomea Fusion has a one year low of $3.61 and a one year high of $20.21. The company’s fifty day moving average price is $5.64 and its two-hundred day moving average price is $6.96. The company has a market capitalization of $150.39 million, a price-to-earnings ratio of -1.03 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.03. As a group, sell-side analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current year.

Hedge Funds Weigh In On Biomea Fusion

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Biomea Fusion during the 2nd quarter valued at about $36,000. Scientech Research LLC bought a new position in Biomea Fusion during the second quarter worth about $46,000. DRW Securities LLC bought a new position in Biomea Fusion during the second quarter worth about $55,000. China Universal Asset Management Co. Ltd. boosted its holdings in Biomea Fusion by 64.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock valued at $70,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Biomea Fusion in the 2nd quarter valued at approximately $109,000. 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.