Biomea Fusion (NASDAQ:BMEA) Earns Market Outperform Rating from Citizens Jmp

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “market outperform” rating reiterated by equities research analysts at Citizens Jmp in a report issued on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock.

Several other brokerages also recently weighed in on BMEA. Citigroup reaffirmed 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 report on Monday, September 28th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Biomea Fusion in a report on Wednesday. Brookline Capital Markets started coverage on shares of Biomea Fusion in a research note on Wednesday, October 7th. They issued a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Biomea Fusion from a “sell” rating to a “hold” rating in a research note on Monday, October 5th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.60.

Biomea Fusion Stock Down 33.5%

NASDAQ:BMEA traded down $0.42 during trading hours on Wednesday, hitting $0.84. 10,570,276 shares of the stock traded hands, compared to its average volume of 1,468,155. Biomea Fusion has a 1 year low of $0.80 and a 1 year high of $2.24. The company has a market cap of $60.74 million, a price-to-earnings ratio of -2.88 and a beta of -0.28. The stock has a 50 day moving average price of $1.53 and a 200 day moving average price of $1.47.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.10. Equities analysts forecast that Biomea Fusion will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMEA. Rathbones Group PLC purchased a new stake in shares of Biomea Fusion during the first quarter valued at about $57,000. ADAR1 Capital Management LLC purchased a new position in Biomea Fusion during the 2nd quarter worth approximately $64,000. GSA Capital Partners LLP purchased a new position in Biomea Fusion during the 2nd quarter worth approximately $318,000. BlackRock Inc. purchased a new position in shares of Biomea Fusion during the 2nd quarter valued at approximately $1,052,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after purchasing an additional 834,179 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors.

Key Stories Impacting Biomea Fusion

Here are the key news stories impacting Biomea Fusion this week:

• Positive Sentiment: Biomea reported Phase 1 results for BMF-650, an investigational next-generation oral small-molecule GLP-1 receptor agonist. The company said the drug produced consistent weight reduction across five multiple-ascending-dose cohorts over four weeks and showed encouraging tolerability, including at the highest tested dose of 400 mg once daily. These findings support continued development of the obesity program. Biomea Fusion Announces Phase 1 Results for BMF-650
• Positive Sentiment: Citizens JMP reaffirmed its “Market Outperform” rating and assigned a $7.00 price target, while HC Wainwright reaffirmed its “Buy” rating with a $4.00 target. The targets imply substantial upside, although they remain dependent on successful clinical development and future financing.
• Neutral Sentiment: Management discussed the Phase 1 topline results and the possibility that BMF-650 could help separate gastrointestinal side effects from weight-loss benefits. The program remains in an early clinical stage, so the data do not yet establish long-term efficacy, safety, or commercial potential. BMF-650 Phase I Topline Results Transcript
• Negative Sentiment: Despite the company’s positive characterization of the results, reports said BMEA shares fell following the Phase 1 readout. Investors may have considered the four-week, early-stage data insufficient to validate BMF-650 against established injectable and emerging oral GLP-1 competitors, contributing to selling pressure. Biomea Reports Phase 1 Weight-Loss Data

About Biomea Fusion

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for serious diseases with significant unmet medical needs. The company’s research platform is centered on covalent chemistry, an approach designed to create potentially durable interactions between medicines and their biological targets.

Biomea’s lead investigational product is icovamenib, formerly known as BMF-219, an oral covalent menin inhibitor. The company has evaluated icovamenib in oncology indications, including certain blood cancers, and is also investigating its potential in metabolic diseases such as diabetes.