Biomea Fusion, Inc. (NASDAQ:BMEA – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $43.88.
BMEA has been the subject of a number of research reports. Jefferies Financial Group downgraded Biomea Fusion from a “buy” rating to a “hold” rating in a report on Monday, June 26th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Biomea Fusion in a research report on Monday, July 24th. Piper Sandler increased their price objective on Biomea Fusion from $40.00 to $45.00 in a research report on Monday, June 26th. Citigroup dropped their target price on Biomea Fusion from $55.00 to $53.00 in a research report on Thursday, May 18th. Finally, Oppenheimer reissued an “outperform” rating and issued a $47.00 target price on shares of Biomea Fusion in a research report on Tuesday, April 11th.
Insider Buying and Selling at Biomea Fusion
In other news, major shareholder A2a Pharmaceuticals, Inc. sold 25,000 shares of Biomea Fusion stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $33.84, for a total value of $846,000.00. Following the sale, the insider now directly owns 3,625,000 shares of the company’s stock, valued at $122,670,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 200,000 shares of company stock valued at $6,780,750. Company insiders own 26.27% of the company’s stock.
Institutional Investors Weigh In On Biomea Fusion
Biomea Fusion Stock Performance
Shares of Biomea Fusion stock opened at $22.25 on Tuesday. Biomea Fusion has a 52-week low of $6.04 and a 52-week high of $43.69. The stock’s 50-day simple moving average is $28.35 and its 200 day simple moving average is $22.62. The stock has a market capitalization of $787.65 million, a P/E ratio of -6.93 and a beta of -1.35.
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last issued its earnings results on Tuesday, May 2nd. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.18). Equities research analysts forecast that Biomea Fusion will post -3.54 EPS for the current fiscal year.
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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.
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