Biomea Fusion (NASDAQ:BMEA) PT Raised to $15.00

Biomea Fusion (NASDAQ:BMEA) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 21.46% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Biomea Fusion in a report on Monday, April 1st. Truist Financial reaffirmed a “buy” rating and set a $55.00 target price on shares of Biomea Fusion in a research note on Monday, April 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price on shares of Biomea Fusion in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Biomea Fusion presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

Biomea Fusion Price Performance

Shares of BMEA opened at $12.35 on Friday. Biomea Fusion has a 12-month low of $8.13 and a 12-month high of $43.69. The firm has a 50-day moving average price of $14.22 and a 200 day moving average price of $14.08.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Monday, April 1st. The company reported ($0.98) earnings per share (EPS) for the quarter. On average, sell-side analysts anticipate that Biomea Fusion will post -4.25 earnings per share for the current year.

Institutional Trading of Biomea Fusion

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter worth about $36,000. Grove Bank & Trust acquired a new stake in shares of Biomea Fusion during the fourth quarter worth about $56,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Biomea Fusion by 348.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after purchasing an additional 3,210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Biomea Fusion by 89.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,744 shares of the company’s stock worth $65,000 after purchasing an additional 2,242 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter worth about $79,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

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, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.