Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $53.13 Consensus Target Price from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $53.13.

Several brokerages recently issued reports on BMEA. Truist Financial restated a “buy” rating and set a $55.00 target price on shares of Biomea Fusion in a research report on Monday, April 1st. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Biomea Fusion in a research report on Monday, April 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $14.00 target price (down from $51.00) on shares of Biomea Fusion in a research report on Tuesday, April 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $70.00 target price on shares of Biomea Fusion in a research report on Wednesday, April 3rd.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Biomea Fusion during the second quarter valued at approximately $36,000. Signaturefd LLC purchased a new position in shares of Biomea Fusion in the fourth quarter worth $36,000. Tower Research Capital LLC TRC lifted its holdings in shares of Biomea Fusion by 316.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock worth $45,000 after buying an additional 2,470 shares in the last quarter. Grove Bank & Trust purchased a new position in shares of Biomea Fusion in the fourth quarter worth $56,000. Finally, UBS Group AG lifted its holdings in shares of Biomea Fusion by 3,980.0% in the third quarter. UBS Group AG now owns 4,080 shares of the company’s stock worth $40,000 after buying an additional 3,980 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Down 3.8 %

Shares of BMEA stock opened at $11.50 on Thursday. The company has a 50 day moving average price of $15.66 and a 200-day moving average price of $14.16. Biomea Fusion has a 52 week low of $8.13 and a 52 week high of $43.69. The firm has a market capitalization of $412.72 million, a PE ratio of -3.32 and a beta of -0.53.

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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.