D. Boral Capital Reaffirms Buy Rating for Biomea Fusion (NASDAQ:BMEA)

D. Boral Capital reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note issued to investors on Friday morning,Benzinga reports. D. Boral Capital currently has a $128.00 target price on the stock.

Several other research firms have also recently commented on BMEA. Scotiabank upped their price target on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a report on Friday, September 27th. Barclays upped their target price on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Rodman & Renshaw upgraded 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 note on Thursday, September 26th. RODMAN&RENSHAW upgraded shares of Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Piper Sandler lifted their target price on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Biomea Fusion currently has an average rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Down 6.8 %

Shares of BMEA stock opened at $3.98 on Friday. The stock has a 50 day moving average of $5.83 and a 200-day moving average of $6.94. The firm has a market cap of $144.23 million, a PE ratio of -0.99 and a beta of -0.35. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.03. As a group, equities analysts predict that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Biomea Fusion by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after buying an additional 2,741 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Biomea Fusion during the 2nd quarter worth $36,000. Scientech Research LLC bought a new stake in shares of Biomea Fusion during the 2nd quarter valued at $46,000. The Manufacturers Life Insurance Company acquired a new position in shares of Biomea Fusion in the 3rd quarter valued at $111,000. Finally, DRW Securities LLC bought a new position in shares of Biomea Fusion in the 2nd quarter worth $55,000. 96.72% of the stock is owned by institutional investors and hedge funds.

About Biomea Fusion

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.