Biomea Fusion (NASDAQ:BMEA) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Biomea Fusion (NASDAQ:BMEA) announced its earnings results on Monday. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.19, Zacks reports.

Biomea Fusion Trading Down 7.4 %

Shares of NASDAQ BMEA opened at $2.13 on Tuesday. The firm has a market cap of $77.19 million, a price-to-earnings ratio of -0.53 and a beta of -0.26. The stock has a fifty day simple moving average of $3.28 and a two-hundred day simple moving average of $5.96. Biomea Fusion has a 1-year low of $2.07 and a 1-year high of $16.29.

Analyst Ratings Changes

BMEA has been the subject of a number of recent analyst reports. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research report on Monday, March 24th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a report on Monday. Finally, D. Boral Capital reiterated a “buy” rating and set 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 issued a strong buy rating to the company. According to data from MarketBeat, Biomea Fusion currently has an average 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.