Equities Analysts Set Expectations for Biomea Fusion, Inc.’s Q3 2024 Earnings (NASDAQ:BMEA)

Biomea Fusion, Inc. (NASDAQ:BMEA) – Stock analysts at Capital One Financial issued their Q3 2024 EPS estimates for shares of Biomea Fusion in a research note issued on Thursday, August 29th. Capital One Financial analyst N. Quibria expects that the company will earn ($1.08) per share for the quarter. Capital One Financial has a “Overweight” rating and a $25.00 price target 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.

A number of other equities research analysts also recently weighed in on BMEA. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Biomea Fusion in a research report on Thursday, August 1st. Truist Financial cut Biomea Fusion from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. Scotiabank reduced 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 research note on Friday, June 7th. Citigroup lowered their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Oppenheimer cut their price objective on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.33.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $7.33 on Monday. The company has a market cap of $263.48 million, a price-to-earnings ratio of -2.05 and a beta of -0.52. The stock’s fifty day moving average price is $5.65 and its two-hundred day moving average price is $10.07. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $22.74.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in Biomea Fusion in the fourth quarter valued at approximately $79,000. China Universal Asset Management Co. Ltd. increased 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. Centaurus Financial Inc. acquired a new stake in Biomea Fusion during the 4th quarter worth $102,000. PNC Financial Services Group Inc. acquired a new stake in Biomea Fusion during the 4th quarter worth $116,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion during the second quarter worth about $36,000. Institutional investors 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.