Biomea Fusion FY2024 EPS Estimate Boosted by HC Wainwright

Biomea Fusion, Inc. (NASDAQ:BMEA) – Investment analysts at HC Wainwright raised their FY2024 earnings per share estimates for shares of Biomea Fusion in a research note issued on Thursday, October 31st. HC Wainwright analyst J. Pantginis now anticipates that the company will post earnings of ($3.97) per share for the year, up from their prior estimate of ($4.22). HC Wainwright currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Biomea Fusion’s current full-year earnings is ($4.09) per share. HC Wainwright also issued estimates for Biomea Fusion’s Q4 2024 earnings at ($1.02) EPS, FY2025 earnings at ($3.17) EPS, FY2026 earnings at ($2.63) EPS, FY2027 earnings at ($2.92) EPS and FY2028 earnings at ($3.05) EPS.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.03.

A number of other brokerages have also recently commented on BMEA. Rodman & Renshaw upgraded Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, September 26th. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Scotiabank increased their price objective on shares of Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research report on Friday, September 27th. Piper Sandler boosted their target price on shares of Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $30.50.

Biomea Fusion Trading Down 3.5 %

Shares of Biomea Fusion stock opened at $9.04 on Monday. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $22.74. The stock has a market cap of $327.61 million, a price-to-earnings ratio of -2.25 and a beta of -0.41. The company has a fifty day moving average price of $9.41 and a 200 day moving average price of $8.29.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BMEA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Biomea Fusion during the 2nd quarter valued at approximately $36,000. High Net Worth Advisory Group LLC acquired a new stake in shares of Biomea Fusion during the second quarter worth $45,000. Scientech Research LLC bought a new position in shares of Biomea Fusion in the 2nd quarter worth about $46,000. DRW Securities LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at about $55,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of 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 buying an additional 2,741 shares during the last quarter. Institutional investors own 96.72% of the company’s stock.

Insider Buying and Selling at Biomea Fusion

In related news, Director Michael J.M. Hitchcock bought 10,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $10.06 per share, with a total value of $100,600.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,900. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 27.57% of the stock is currently owned by insiders.

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.