Analysts Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $28.25

Biomea Fusion, Inc. (NASDAQ:BMEA) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.25.

A number of brokerages recently weighed in on BMEA. Citigroup lowered their target price on shares of Biomea Fusion from $90.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Oppenheimer lowered their target price on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Scotiabank lowered their target price on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 7th. Piper Sandler lowered their target price on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Biomea Fusion from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the second quarter worth approximately $46,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Biomea Fusion in the second quarter worth approximately $36,000. Squarepoint Ops LLC bought a new position in shares of Biomea Fusion in the second quarter worth approximately $237,000. Cubist Systematic Strategies LLC bought a new position in shares of Biomea Fusion in the second quarter worth approximately $109,000. Finally, DRW Securities LLC bought a new position in shares of Biomea Fusion in the second quarter worth approximately $55,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Trading Up 0.7 %

Shares of Biomea Fusion stock opened at $5.87 on Wednesday. Biomea Fusion has a 12-month low of $3.61 and a 12-month high of $22.74. The company has a market cap of $211.00 million, a price-to-earnings ratio of -1.64 and a beta of -0.52. The company’s 50-day moving average price is $5.26 and its 200-day moving average price is $10.74.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.03). On average, sell-side analysts predict that Biomea Fusion will post -4.09 earnings per share for the current year.

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.