Biomea Fusion (NASDAQ:BMEA) Receives Buy Rating from D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by D. Boral Capital in a report released on Friday,Benzinga reports. They currently have a $128.00 price target on the stock.

A number of other brokerages have also issued reports on BMEA. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Monday, December 16th. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a research note on Wednesday, October 9th. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Barclays upped their price objective on shares of Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Rodman & Renshaw raised shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Biomea Fusion currently has an average rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Up 6.5 %

Shares of BMEA stock opened at $4.27 on Friday. Biomea Fusion has a 12-month low of $3.61 and a 12-month high of $20.21. The company has a market capitalization of $154.74 million, a PE ratio of -1.06 and a beta of -0.35. The firm has a 50 day moving average price of $5.93 and a two-hundred day moving average price of $6.95.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.03. As a group, research analysts expect that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors have recently added to or reduced their stakes in BMEA. Griffin Asset Management Inc. grew its stake in shares of Biomea Fusion by 147.0% in the third quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock worth $970,000 after purchasing an additional 57,180 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at about $237,000. Barclays PLC increased its stake in shares of Biomea Fusion by 156.3% in the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after buying an additional 24,162 shares during the period. Geode Capital Management LLC raised its position in shares of Biomea Fusion by 0.7% during the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after acquiring an additional 4,291 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Biomea Fusion in the second quarter worth approximately $1,481,000. 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.