Biomea Fusion (NASDAQ:BMEA) Issues Quarterly Earnings Results

Biomea Fusion (NASDAQ:BMEA) posted its quarterly earnings data on Wednesday. The company reported ($1.03) earnings per share for the quarter, meeting the consensus estimate of ($1.03), Zacks reports.

Biomea Fusion Trading Down 0.9 %

BMEA stock traded down $0.05 during mid-day trading on Friday, hitting $5.70. 839,888 shares of the company were exchanged, compared to its average volume of 868,815. The business has a 50 day simple moving average of $6.12 and a 200-day simple moving average of $11.68. The stock has a market capitalization of $206.40 million, a PE ratio of -1.60 and a beta of -0.52. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BMEA shares. Citigroup reduced their target price on shares of Biomea Fusion from $90.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Oppenheimer reduced their price objective on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Truist Financial lowered shares of Biomea Fusion from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Scotiabank reduced their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 7th. Finally, Piper Sandler reduced their price objective on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.25.

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.