Biomea Fusion (NASDAQ:BMEA) Price Target Raised to $11.00

Biomea Fusion (NASDAQ:BMEA) had its price target upped by Barclays from $9.00 to $11.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also recently weighed in on BMEA. Rodman & Renshaw upgraded Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, September 26th. Citigroup dropped their target price on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Capital One Financial assumed coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price target for the company. EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $30.50.

Biomea Fusion Trading Down 3.5 %

Shares of BMEA opened at $9.04 on Wednesday. The stock’s fifty day simple moving average is $9.41 and its 200 day simple moving average is $8.34. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $22.74. The firm has a market capitalization of $327.61 million, a P/E ratio of -2.25 and a beta of -0.43.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.03. Sell-side analysts predict that Biomea Fusion will post -4.09 earnings per share for the current year.

Insider Activity at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $10.06 per share, with a total value of $100,600.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,900. This represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 27.57% of the stock is owned by insiders.

Institutional Trading of Biomea Fusion

A number of institutional investors and hedge funds have recently made changes to their positions in BMEA. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Biomea Fusion in the second quarter valued at approximately $36,000. High Net Worth Advisory Group LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at about $45,000. Scientech Research LLC bought a new position in shares of Biomea Fusion in the second quarter worth about $46,000. DRW Securities LLC bought a new position in shares of Biomea Fusion in the second quarter worth about $55,000. Finally, China Universal Asset Management Co. Ltd. lifted 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 purchasing an additional 2,741 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.