Biomea Fusion (NASDAQ:BMEA) Posts Earnings Results, Beats Expectations By $0.19 EPS

Biomea Fusion (NASDAQ:BMEA) released its earnings results on Monday. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.19, Zacks reports.

Biomea Fusion Price Performance

BMEA stock opened at $2.13 on Tuesday. Biomea Fusion has a 1 year low of $2.07 and a 1 year high of $16.29. The firm has a 50-day moving average of $3.28 and a 200 day moving average of $5.96. The company has a market cap of $77.19 million, a P/E ratio of -0.53 and a beta of -0.26.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BMEA. D. Boral Capital restated a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a research report on Wednesday, March 19th. Oppenheimer set a $10.00 target price on Biomea Fusion in a report on Monday, March 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a research note on Monday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $24.64.

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.