Fintel reports that on October 9, 2024, EF Hutton initiated coverage of Biomea Fusion (NasdaqGS:BMEA) with a Buy recommendation.
Analyst Price Forecast Suggests 111.22% Upside
As of September 25, 2024, the average one-year price target for Biomea Fusion is $23.02/share. The forecasts range from a low of $5.05 to a high of $63.00. The average price target represents an increase of 111.22% from its latest reported closing price of $10.90 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Biomea Fusion is 5MM. The projected annual non-GAAP EPS is -2.67.
What is the Fund Sentiment?
There are 251 funds or institutions reporting positions in Biomea Fusion. This is an decrease of 2 owner(s) or 0.79% in the last quarter. Average portfolio weight of all funds dedicated to BMEA is 0.04%, an increase of 42.33%. Total shares owned by institutions decreased in the last three months by 23.66% to 25,134K shares. 
The put/call ratio of BMEA is 0.20, indicating a bullish outlook.
What are Other Shareholders Doing?
XBI - SPDR(R) S&P(R) Biotech ETF holds 3,985K shares representing 11.01% ownership of the company. In its prior filing, the firm reported owning 907K shares , representing an increase of 77.24%. The firm increased its portfolio allocation in BMEA by 318.66% over the last quarter.
Cormorant Asset Management holds 3,571K shares representing 9.86% ownership of the company. No change in the last quarter.
Baker Bros. Advisors holds 2,109K shares representing 5.82% ownership of the company. No change in the last quarter.
FDGRX - Fidelity Growth Company Fund holds 1,618K shares representing 4.47% ownership of the company. In its prior filing, the firm reported owning 1,628K shares , representing a decrease of 0.62%. The firm decreased its portfolio allocation in BMEA by 42.70% over the last quarter.
Adage Capital Partners Gp, L.l.c. holds 1,100K shares representing 3.04% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Biomea Fusion Background Information
(This description is provided by the company.)
Biomea Fusion, Inc. operates as a biopharmaceutical company. The Company focuseS on the discovery, development, and commercialization of irreversible small molecules to treat patients with genetically defined cancers. Biomea Fusion serves customers in the United States.
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