Free Trial

Biomea Fusion (NASDAQ:BMEA) Announces Earnings Results

Biomea Fusion logo with Medical background

Biomea Fusion (NASDAQ:BMEA - Get Free Report) released its earnings results on Tuesday. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.03, Briefing.com reports.

Biomea Fusion Price Performance

BMEA traded down $1.63 during trading on Wednesday, hitting $10.43. 709,009 shares of the stock traded hands, compared to its average volume of 1,014,961. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $22.74. The company has a market cap of $377.67 million, a price-to-earnings ratio of -2.75 and a beta of -0.43. The business has a 50 day moving average price of $9.25 and a 200 day moving average price of $8.34.

Wall Street Analysts Forecast Growth

BMEA has been the subject of several research reports. Rodman & Renshaw upgraded shares of Biomea Fusion from a "neutral" rating to a "buy" rating and set a $18.00 price objective for the company in a research report on Thursday, September 26th. Citigroup lowered their price target on Biomea Fusion from $45.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. HC Wainwright restated a "buy" rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Tuesday, October 22nd. Capital One Financial began coverage on Biomea Fusion in a report on Thursday, August 29th. They set an "overweight" rating and a $25.00 target price on the stock. Finally, EF Hutton Acquisition Co. I raised Biomea Fusion to a "strong-buy" rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $29.60.

View Our Latest Stock Report on BMEA

Insider Buying and Selling

In related news, Director Michael J.M. Hitchcock acquired 10,000 shares of the company's stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company's stock, valued at approximately $150,900. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.57% of the stock is currently owned by insiders.

About Biomea Fusion

(Get Free Report)

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.

Featured Articles

Earnings History for Biomea Fusion (NASDAQ:BMEA)

Should you invest $1,000 in Biomea Fusion right now?

Before you consider Biomea Fusion, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Biomea Fusion wasn't on the list.

While Biomea Fusion currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!
How to Profit from NVIDIA’s Earnings: Short-Term Trading Guide

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines