Biomea Fusion (NASDAQ:BMEA) Issues Quarterly Earnings Results

Biomea Fusion (NASDAQ:BMEA) announced its earnings results on Monday. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.19, Zacks reports.

Biomea Fusion Price Performance

BMEA stock opened at $2.13 on Tuesday. Biomea Fusion has a fifty-two week low of $2.07 and a fifty-two week high of $16.29. The stock has a market capitalization of $77.19 million, a price-to-earnings ratio of -0.53 and a beta of -0.26. The business’s fifty day moving average price is $3.28 and its two-hundred day moving average price is $5.96.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BMEA shares. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research report on Monday, March 24th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Monday. Finally, D. Boral Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Biomea Fusion in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $24.64.

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.