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

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

Biomea Fusion Stock Down 6.6 %

BMEA opened at $1.99 on Wednesday. The company has a market cap of $72.12 million, a price-to-earnings ratio of -0.50 and a beta of -0.26. The firm’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $5.92. Biomea Fusion has a 52-week low of $1.94 and a 52-week high of $14.43.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BMEA shares. Oppenheimer set a $10.00 price objective on Biomea Fusion in a research report on Monday, March 24th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a research report on Monday. Finally, D. Boral Capital restated a “buy” rating and issued a $16.00 target price on shares of Biomea Fusion in a research note on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $24.64.

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.