Biomea Fusion (NASDAQ:BMEA) Earns Buy Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a report issued on Friday,Benzinga reports. The brokerage currently has a $128.00 target price on the stock.

BMEA has been the subject of several other reports. RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Scotiabank upped 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. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a report on Monday, December 16th. EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Barclays lifted their price target on shares of Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Biomea Fusion has an average rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Down 6.8 %

Shares of BMEA opened at $3.98 on Friday. The firm has a market cap of $144.23 million, a price-to-earnings ratio of -0.99 and a beta of -0.35. The business’s 50 day moving average is $5.83 and its two-hundred day moving average is $6.97. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last posted 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. On average, equities analysts expect that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its stake in Biomea Fusion by 64.9% during the 3rd 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. Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion during the second quarter valued at about $36,000. Scientech Research LLC acquired a new position in Biomea Fusion during the second quarter worth about $46,000. The Manufacturers Life Insurance Company bought a new stake in Biomea Fusion in the third quarter worth about $111,000. Finally, DRW Securities LLC acquired a new stake in Biomea Fusion in the 2nd quarter valued at about $55,000. Institutional investors 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.