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

D. Boral Capital reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA - Free Report) in a report issued on Friday morning,Benzinga reports. D. Boral Capital currently has a $128.00 target price on the stock.

A number of other research firms have also recently issued reports on BMEA. RODMAN&RENSHAW upgraded shares of Biomea Fusion to a "strong-buy" rating in a research note on Thursday, September 26th. EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a "strong-buy" rating in a research note on Wednesday, October 9th. Rodman & Renshaw raised shares of Biomea Fusion from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a research report on Thursday, September 26th. Truist Financial raised shares of Biomea Fusion from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a research report on Friday, September 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Biomea Fusion in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Biomea Fusion presently has an average rating of "Buy" and a consensus target price of $39.36.

Biomea Fusion Price Performance

BMEA stock traded down $0.29 during trading hours on Friday, reaching $3.98. The stock had a trading volume of 804,005 shares, compared to its average volume of 1,078,818. The stock has a 50-day simple moving average of $5.83 and a 200 day simple moving average of $6.94. The stock has a market capitalization of $144.23 million, a PE ratio of -0.99 and a beta of -0.35. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $20.21.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted 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. On average, sell-side analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of large investors have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Biomea Fusion by 156.3% during the 3rd quarter. Barclays PLC now owns 39,620 shares of the company's stock worth $401,000 after buying an additional 24,162 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Biomea Fusion by 0.7% in 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. Wexford Capital LP boosted its stake in shares of Biomea Fusion by 26.9% in the 3rd quarter. Wexford Capital LP now owns 130,336 shares of the company's stock valued at $1,316,000 after purchasing an additional 27,619 shares in the last quarter. FMR LLC increased its position in Biomea Fusion by 0.7% during the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company's stock worth $54,858,000 after purchasing an additional 39,959 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Biomea Fusion during the 3rd quarter worth approximately $111,000. Institutional investors and hedge funds own 96.72% of the company's stock.

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.