HC Wainwright Reiterates Buy Rating for Biomea Fusion (NASDAQ:BMEA)

HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA - Free Report) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $40.00 price target on the stock. HC Wainwright also issued estimates for Biomea Fusion's Q1 2025 earnings at ($0.85) EPS, Q2 2025 earnings at ($0.91) EPS, Q3 2025 earnings at ($1.03) EPS, Q4 2025 earnings at ($1.11) EPS, FY2025 earnings at ($3.91) EPS, FY2026 earnings at ($3.56) EPS, FY2027 earnings at ($2.39) EPS and FY2028 earnings at ($2.45) EPS.

Several other research firms also recently issued reports on BMEA. D. Boral Capital reiterated a "buy" rating and set a $16.00 price objective on shares of Biomea Fusion in a research note on Wednesday, March 19th. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a report on Monday, March 24th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Biomea Fusion presently has an average rating of "Buy" and an average price target of $23.91.

Biomea Fusion Stock Performance

Shares of BMEA traded down $0.21 during trading hours on Monday, hitting $1.95. The stock had a trading volume of 662,804 shares, compared to its average volume of 915,666. Biomea Fusion has a 12-month low of $1.87 and a 12-month high of $14.43. The firm has a market cap of $70.67 million, a P/E ratio of -0.49 and a beta of -0.26. The company's fifty day simple moving average is $3.19 and its 200 day simple moving average is $5.89.

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Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.81) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.19. As a group, sell-side analysts predict that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Biomea Fusion by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company's stock valued at $2,105,000 after purchasing an additional 7,551 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Biomea Fusion during the 3rd quarter valued at approximately $111,000. FMR LLC grew its position in shares of Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company's stock worth $54,858,000 after buying an additional 39,959 shares in the last quarter. Wexford Capital LP increased its stake in shares of Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company's stock worth $1,316,000 after buying an additional 27,619 shares during the last quarter. Finally, Barclays PLC raised its holdings in 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 acquiring an additional 24,162 shares in the last quarter. 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.