Biomea Fusion (NASDAQ:BMEA – Get Free Report) was upgraded by stock analysts at Rodman & Renshaw from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Benzinga reports. The brokerage presently has a $18.00 target price on the stock. Rodman & Renshaw’s target price would indicate a potential upside of 94.59% from the stock’s previous close.
A number of other research firms also recently issued reports on BMEA. Scotiabank cut their target price on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Friday, June 7th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Biomea Fusion in a research note on Thursday, August 1st. Capital One Financial assumed coverage on Biomea Fusion in a report on Thursday, August 29th. They set an “overweight” rating and a $25.00 price target for the company. Piper Sandler cut their price objective on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, June 7th. Finally, Truist Financial downgraded shares of Biomea Fusion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.60.
View Our Latest Analysis on Biomea Fusion
Biomea Fusion Price Performance
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, hitting the consensus estimate of ($1.03). On average, equities analysts forecast that Biomea Fusion will post -4.09 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of BMEA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Biomea Fusion in the second quarter worth about $36,000. High Net Worth Advisory Group LLC purchased a new stake in Biomea Fusion during the second quarter valued at about $45,000. Scientech Research LLC bought a new position in Biomea Fusion during the 2nd quarter worth approximately $46,000. DRW Securities LLC bought a new stake in Biomea Fusion during the 2nd quarter valued at $55,000. Finally, Quest Partners LLC purchased a new stake in shares of Biomea Fusion during the fourth quarter worth about $79,000. Hedge funds and other 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.
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