Biomea Fusion’s (BMEA) “Buy” Rating Reiterated at HC Wainwright

by · The Cerbat Gem

Biomea Fusion (NASDAQ:BMEA – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 217.46% from the stock’s current price.

Several other analysts also recently commented on BMEA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Monday, September 28th. Citigroup reaffirmed a “market outperform” rating on shares of Biomea Fusion in a research note on Wednesday, September 30th. Wall Street Zen raised Biomea Fusion from a “sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Brookline Capital Markets assumed coverage on Biomea Fusion in a research report on Wednesday, October 7th. They set a “buy” rating on the stock. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Read Our Latest Stock Analysis on Biomea Fusion

Biomea Fusion Trading Down 7.4%

NASDAQ:BMEA opened at $1.26 on Wednesday. Biomea Fusion has a 1-year low of $0.87 and a 1-year high of $2.24. The business’s 50-day moving average price is $1.53 and its two-hundred day moving average price is $1.47. The firm has a market capitalization of $91.32 million, a price-to-earnings ratio of -4.34 and a beta of -0.28.

Biomea Fusion (NASDAQ:BMEA – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.10. Sell-side analysts predict that Biomea Fusion will post -0.71 earnings per share for the current year.

Institutional Trading of Biomea Fusion

Hedge funds have recently bought and sold shares of the stock. Rathbones Group PLC acquired a new stake in Biomea Fusion during the 1st quarter worth approximately $57,000. ADAR1 Capital Management LLC acquired a new stake in Biomea Fusion during the 2nd quarter worth approximately $64,000. GSA Capital Partners LLP acquired a new stake in Biomea Fusion during the 2nd quarter worth approximately $318,000. BlackRock Inc. acquired a new stake in Biomea Fusion during the 2nd quarter worth approximately $1,052,000. Finally, Renaissance Technologies LLC raised its holdings in Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after buying an additional 834,179 shares during the period. 96.72% of the stock is currently owned by institutional investors and hedge funds.

About Biomea Fusion

(Get Free Report)

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for serious diseases with significant unmet medical needs. The company’s research platform is centered on covalent chemistry, an approach designed to create potentially durable interactions between medicines and their biological targets.

Biomea’s lead investigational product is icovamenib, formerly known as BMF-219, an oral covalent menin inhibitor. The company has evaluated icovamenib in oncology indications, including certain blood cancers, and is also investigating its potential in metabolic diseases such as diabetes.

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