HC Wainwright Reaffirms “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $4.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 384.85% from the company’s current price.

Several other research analysts have also weighed in on BMEA. Citigroup reissued a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th. Brookline Capital Markets assumed coverage on Biomea Fusion in a research report on Wednesday, October 7th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Monday, September 28th. Finally, Wall Street Zen upgraded Biomea Fusion from a “sell” rating to a “hold” rating in a report on Monday, October 5th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.60.

Biomea Fusion Stock Performance

Shares of NASDAQ:BMEA traded down $0.44 during mid-day trading on Wednesday, hitting $0.83. The stock had a trading volume of 8,896,081 shares, compared to its average volume of 1,451,942. The company’s 50 day moving average is $1.53 and its 200-day moving average is $1.47. Biomea Fusion has a 12-month low of $0.80 and a 12-month high of $2.24. The company has a market cap of $59.80 million, a PE ratio of -2.88 and a beta of -0.28.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.10. On average, equities research analysts predict that Biomea Fusion will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after acquiring an additional 834,179 shares during the last quarter. BlackRock Inc. acquired a new position in Biomea Fusion in the 2nd quarter valued at $1,052,000. ADAR1 Capital Management LLC bought a new position in Biomea Fusion in the 2nd quarter worth $64,000. GSA Capital Partners LLP bought a new position in Biomea Fusion in the 2nd quarter worth $318,000. Finally, Rathbones Group PLC acquired a new stake in shares of Biomea Fusion in the first quarter valued at about $57,000. 96.72% of the stock is currently owned by institutional investors.

Key Biomea Fusion News

Here are the key news stories impacting Biomea Fusion this week:

• Positive Sentiment: BMF-650 demonstrated early weight-loss activity. Across five multiple-ascending-dose cohorts, participants showed consistent weight reduction over four weeks. The highest-dose group reached 400 mg once daily following a single one-week titration period. Biomea Fusion Announces Phase 1 Results for BMF-650
• Positive Sentiment: Analysts remain bullish. Citizens JMP reaffirmed its “Market Outperform” rating with a $7 price target, while HC Wainwright reaffirmed its “Buy” rating and set a $4 target. Both targets imply substantial upside from recent trading levels.
• Neutral Sentiment: Management is highlighting the possibility of separating weight loss from gastrointestinal side effects. The company discussed BMF-650’s potential to offer an oral GLP-1 treatment with improved tolerability, but this remains an investigational hypothesis requiring additional clinical testing. Biomea Fusion discusses BMF-650 Phase I results
• Negative Sentiment: The stock fell after the Phase 1 data release. Investors may have been disappointed that the results are based on a small, short-duration, early-stage study and do not yet establish BMF-650’s durability, comparative efficacy, or long-term safety. The market reaction outweighed the favorable analyst commentary. Biomea reports Phase 1 weight-loss data

About Biomea Fusion

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for serious diseases with significant unmet medical needs. The company’s research platform is centered on covalent chemistry, an approach designed to create potentially durable interactions between medicines and their biological targets.

Biomea’s lead investigational product is icovamenib, formerly known as BMF-219, an oral covalent menin inhibitor. The company has evaluated icovamenib in oncology indications, including certain blood cancers, and is also investigating its potential in metabolic diseases such as diabetes.