Biomea Fusion (NASDAQ:BMEA) Price Target Raised to $15.00 at JPMorgan Chase & Co.

Biomea Fusion (NASDAQ:BMEA) had its price target increased by analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 21.46% from the stock’s previous close.

Several other analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Biomea Fusion in a research note on Monday, April 1st. Truist Financial reiterated a “buy” rating and set a $55.00 target price on shares of Biomea Fusion in a research note on Monday, April 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 target price on shares of Biomea Fusion in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.25.

Biomea Fusion Stock Up 3.5 %

BMEA opened at $12.35 on Friday. The firm’s fifty day moving average price is $14.22 and its 200 day moving average price is $14.08. Biomea Fusion has a 12-month low of $8.13 and a 12-month high of $43.69.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Monday, April 1st. The company reported ($0.98) earnings per share (EPS) for the quarter. As a group, research analysts predict that Biomea Fusion will post -4.25 EPS for the current year.

Hedge Funds Weigh In On Biomea Fusion

Several institutional investors have recently modified their holdings of BMEA. FMR LLC grew its position in Biomea Fusion by 0.6% in the 3rd quarter. FMR LLC now owns 5,344,191 shares of the company’s stock valued at $73,536,000 after buying an additional 34,026 shares in the last quarter. Laurion Capital Management LP grew its position in Biomea Fusion by 16.5% in the 3rd quarter. Laurion Capital Management LP now owns 2,613,135 shares of the company’s stock valued at $35,957,000 after buying an additional 369,448 shares in the last quarter. Vanguard Group Inc. grew its position in Biomea Fusion by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,339,428 shares of the company’s stock valued at $18,431,000 after buying an additional 21,835 shares in the last quarter. Rafferty Asset Management LLC grew its position in Biomea Fusion by 70.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company’s stock valued at $3,218,000 after buying an additional 96,945 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Biomea Fusion by 125.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 180,000 shares of the company’s stock valued at $2,477,000 after buying an additional 100,000 shares in the last quarter. Institutional investors 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.