HC Wainwright Reiterates Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 237.08% from the company’s previous close.

A number of other research firms have also recently commented on BMEA. Truist Financial cut Biomea Fusion from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Oppenheimer dropped their target price on Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Barclays cut shares of Biomea Fusion from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $30.00 to $5.00 in a research report on Friday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Biomea Fusion from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Piper Sandler reduced their target price on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

Biomea Fusion Trading Down 14.6 %

NASDAQ BMEA opened at $4.45 on Tuesday. The stock has a fifty day simple moving average of $9.59 and a 200-day simple moving average of $13.48. The stock has a market cap of $159.93 million, a PE ratio of -1.25 and a beta of -0.35. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $24.61.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.07). Research analysts predict that Biomea Fusion will post -4.09 EPS for the current year.

Hedge Funds Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently modified their holdings of BMEA. Signaturefd LLC acquired a new position in shares of Biomea Fusion during the 4th quarter worth about $36,000. Grove Bank & Trust purchased a new position in Biomea Fusion in the fourth quarter valued at approximately $56,000. China Universal Asset Management Co. Ltd. raised its holdings in Biomea Fusion by 348.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after purchasing an additional 3,210 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Biomea Fusion during the 4th quarter worth approximately $79,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Biomea Fusion in the 4th quarter valued at $102,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Company Profile

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.