Biomea Fusion (NASDAQ:BMEA) Upgraded at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Biomea Fusion (NASDAQ:BMEA) to a strong-buy rating in a research note published on Thursday, Zacks.com reports.

Several other analysts have also recently commented on the company. Truist Financial upgraded Biomea Fusion from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Friday. Barclays increased their target price on Biomea Fusion from $5.00 to $9.00 and gave the stock an equal weight rating in a research report on Friday. Oppenheimer reduced their target price on Biomea Fusion from $70.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, May 30th. Citigroup dropped their target price 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, Capital One Financial started coverage on shares of Biomea Fusion in a research note on Thursday, August 29th. They issued an overweight rating and a $25.00 target price on the stock. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Biomea Fusion presently has an average rating of Moderate Buy and a consensus price target of $29.40.

Biomea Fusion Trading Up 3.4 %

Shares of BMEA opened at $9.90 on Thursday. Biomea Fusion has a 12-month low of $3.61 and a 12-month high of $22.74. The company has a 50-day moving average of $6.89 and a two-hundred day moving average of $9.00. 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 announced its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, meeting the consensus estimate of ($1.03). As a group, analysts forecast that Biomea Fusion will post -4.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Hedge funds have recently bought and sold shares of the business. Capstone Investment Advisors LLC bought a new position in Biomea Fusion during the 1st quarter worth approximately $182,000. Centaurus Financial Inc. bought a new stake in Biomea Fusion during the fourth quarter valued at $102,000. PNC Financial Services Group Inc. acquired a new stake in shares of Biomea Fusion during the fourth quarter worth $116,000. SG Americas Securities LLC acquired a new stake in Biomea Fusion during the first quarter worth about $462,000. Finally, Griffin Asset Management Inc. lifted its holdings in Biomea Fusion by 39.4% in the first quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock worth $566,000 after acquiring an additional 10,700 shares during 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.