Biomea Fusion’s (BMEA) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note published on Friday morning,Benzinga reports. D. Boral Capital currently has a $128.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Scotiabank raised their price target on Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 27th. Piper Sandler lifted their price target on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial upgraded shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, September 27th. Barclays raised their price target on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Biomea Fusion in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $39.36.

Biomea Fusion Stock Down 6.8 %

NASDAQ BMEA opened at $3.98 on Friday. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $20.21. The firm has a 50 day moving average of $5.83 and a two-hundred day moving average of $6.97. The stock has a market capitalization of $144.23 million, a PE ratio of -0.99 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.03. On average, equities research analysts expect that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors have recently added to or reduced their stakes in the company. Griffin Asset Management Inc. lifted its stake in shares of Biomea Fusion by 147.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after purchasing an additional 57,180 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Biomea Fusion in the second quarter valued at approximately $237,000. Barclays PLC lifted its position in Biomea Fusion by 156.3% during the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after buying an additional 24,162 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Biomea Fusion by 0.7% in the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after acquiring an additional 4,291 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Biomea Fusion in the second quarter worth $1,481,000. Hedge funds and other 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.