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

D. Boral Capital reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note released on Wednesday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Biomea Fusion presently has a consensus rating of “Buy” and a consensus target price of $29.18.

Biomea Fusion Price Performance

BMEA stock opened at $2.87 on Wednesday. Biomea Fusion has a 1-year low of $2.35 and a 1-year high of $16.97. The firm has a fifty day moving average price of $3.47 and a two-hundred day moving average price of $6.18. The firm has a market cap of $104.01 million, a price-to-earnings ratio of -0.72 and a beta of -0.26.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently bought and sold shares of BMEA. Bayesian Capital Management LP acquired a new stake in Biomea Fusion during the 4th quarter worth about $42,000. Wells Fargo & Company MN raised its holdings in Biomea Fusion by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock worth $50,000 after buying an additional 4,399 shares during the period. Intech Investment Management LLC acquired a new stake in Biomea Fusion during the 4th quarter worth about $54,000. SG Americas Securities LLC acquired a new stake in Biomea Fusion during the 4th quarter worth about $58,000. Finally, Maia Wealth LLC acquired a new stake in Biomea Fusion during the 4th quarter worth about $62,000. 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.