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

D. Boral Capital reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a report released on Tuesday,Benzinga reports. The firm currently has a $128.00 target price on the stock.

BMEA has been the subject of several other research reports. Piper Sandler raised their price objective on Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a research note on Monday. 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 note on Friday, September 27th. EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup dropped their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Two 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. Based on data from MarketBeat, Biomea Fusion presently has a consensus rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Performance

BMEA opened at $4.08 on Tuesday. The company has a market cap of $147.86 million, a PE ratio of -1.02 and a beta of -0.53. The stock has a 50-day moving average of $8.10 and a 200-day moving average of $7.22. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $20.21.

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

Insiders Place Their Bets

In other Biomea Fusion news, Director Michael J.M. Hitchcock purchased 10,000 shares of the stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $150,900. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 27.57% of the company’s stock.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $36,000. Scientech Research LLC acquired a new position in Biomea Fusion in the second quarter valued at about $46,000. DRW Securities LLC bought a new position in Biomea Fusion during the second quarter worth about $55,000. 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 worth $70,000 after buying an additional 2,741 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Biomea Fusion in the 2nd quarter valued at about $109,000. 96.72% of the stock is owned by institutional investors.

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.