Biomea Fusion’s (BMEA) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $128.00 price target on the stock.

BMEA has been the topic of a number of other reports. Rodman & Renshaw upgraded 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. Piper Sandler raised their price objective on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial upgraded Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, September 27th. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Scotiabank increased their price objective on shares of Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research note on Friday, September 27th. Two investment 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, Biomea Fusion presently has an average rating of “Buy” and a consensus price target of $39.36.

Biomea Fusion Stock Performance

BMEA stock opened at $5.80 on Tuesday. The firm has a market capitalization of $210.19 million, a price-to-earnings ratio of -1.45 and a beta of -0.53. The company’s 50 day moving average price is $8.70 and its 200 day moving average price is $7.43. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.03. Equities analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Insider Activity at Biomea Fusion

In other news, Director Michael J.M. Hitchcock purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $10.06 per share, with a total value of $100,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $150,900. The trade was a 200.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.57% of the company’s stock.

Institutional Investors Weigh In On Biomea Fusion

Large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Biomea Fusion during the 2nd quarter worth about $36,000. High Net Worth Advisory Group LLC acquired a new stake in Biomea Fusion during the 2nd quarter worth about $45,000. Scientech Research LLC acquired a new stake in shares of Biomea Fusion during the second quarter valued at approximately $46,000. DRW Securities LLC acquired a new stake in Biomea Fusion during the 2nd quarter valued at $55,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in 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 valued at $70,000 after purchasing an additional 2,741 shares during the period. 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.