Biomea Fusion’s (BMEA) Outperform Rating Reiterated at Oppenheimer

Biomea Fusion (NASDAQ:BMEAGet Free Report)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $70.00 target price on the stock. Oppenheimer’s target price would indicate a potential upside of 434.76% from the company’s current price.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $14.00 price objective (down from $51.00) on shares of Biomea Fusion in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Biomea Fusion in a report on Monday. Truist Financial restated a “buy” rating and issued a $55.00 price objective on shares of Biomea Fusion in a report on Monday. Finally, Citigroup restated a “buy” rating and issued a $90.00 price objective on shares of Biomea Fusion in a report on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.89.

View Our Latest Stock Analysis on Biomea Fusion

Biomea Fusion Stock Up 2.3 %

Shares of BMEA stock traded up $0.29 during trading hours on Wednesday, hitting $13.09. 180,800 shares of the company’s stock traded hands, compared to its average volume of 990,014. The stock’s fifty day simple moving average is $16.79 and its two-hundred day simple moving average is $14.27. Biomea Fusion has a 12-month low of $8.13 and a 12-month high of $43.69. The stock has a market cap of $469.80 million, a price-to-earnings ratio of -3.80 and a beta of -0.53.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds have recently added to or reduced their stakes in BMEA. State Street Corp raised its stake in Biomea Fusion by 2,684.2% during the 2nd quarter. State Street Corp now owns 1,567,950 shares of the company’s stock valued at $34,417,000 after buying an additional 1,511,635 shares during the last quarter. BlackRock Inc. increased its stake in shares of Biomea Fusion by 100.0% in the 2nd quarter. BlackRock Inc. now owns 1,961,189 shares of the company’s stock worth $43,048,000 after purchasing an additional 980,355 shares in the last quarter. Perceptive Advisors LLC increased its stake in shares of Biomea Fusion by 120.4% in the 2nd quarter. Perceptive Advisors LLC now owns 716,441 shares of the company’s stock worth $15,726,000 after purchasing an additional 391,441 shares in the last quarter. Laurion Capital Management LP increased its stake in shares of Biomea Fusion by 16.5% in the 3rd quarter. Laurion Capital Management LP now owns 2,613,135 shares of the company’s stock worth $35,957,000 after purchasing an additional 369,448 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Biomea Fusion by 540.5% in the 2nd quarter. Citadel Advisors LLC now owns 335,191 shares of the company’s stock worth $4,016,000 after purchasing an additional 282,855 shares in the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Company Profile

(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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.

Further Reading

Analyst Recommendations for Biomea Fusion (NASDAQ:BMEA)

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