Biomea Fusion (NASDAQ:BMEA) Given “Buy” Rating at HC Wainwright

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 170.27% from the company’s current price.

Other analysts have also issued reports about the company. Citigroup cut their price target on Biomea Fusion from $90.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Scotiabank cut their target price on Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 7th. Barclays cut shares of Biomea Fusion from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $30.00 to $5.00 in a research note on Friday, June 7th. Truist Financial lowered shares of Biomea Fusion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, Oppenheimer decreased their target price on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.25.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $5.55 on Tuesday. The stock has a market cap of $199.47 million, a price-to-earnings ratio of -1.55 and a beta of -0.35. The business has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $13.62. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $33.00.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.07). On average, analysts predict that Biomea Fusion will post -4.06 EPS for the current year.

Institutional Investors Weigh In On Biomea Fusion

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Biomea Fusion by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock valued at $2,656,000 after acquiring an additional 1,028 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Biomea Fusion by 12.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock worth $232,000 after buying an additional 1,712 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Biomea Fusion by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,248 shares of the company’s stock valued at $134,000 after buying an additional 2,345 shares during the period. Signaturefd LLC bought a new position in Biomea Fusion in the 4th quarter valued at about $36,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Biomea Fusion by 66.1% in the 1st 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 in the last quarter. 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.