Biomea Fusion (NASDAQ:BMEA) Posts Earnings Results, Beats Expectations By $0.12 EPS

Biomea Fusion (NASDAQ:BMEA) issued its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.12, FiscalAI reports.

Biomea Fusion Price Performance

Shares of BMEA opened at $0.61 on Thursday. The firm has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $1.34. Biomea Fusion has a one year low of $0.54 and a one year high of $2.24. The company has a market cap of $44.28 million, a P/E ratio of -5.55 and a beta of -0.14.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMEA. Brookline Capital Markets began coverage on Biomea Fusion in a report on Wednesday, October 7th. They issued a “buy” rating for the company. Citigroup reissued a “market outperform” rating on shares of Biomea Fusion in a report on Wednesday, September 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Monday, September 28th. Wall Street Zen cut shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Biomea Fusion in a research note on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.60.

Biomea Fusion Company Profile

Biomea Fusion, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets. Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.