Barclays Sticks to Its Buy Rating for Biomea Fusion (BMEA)

In a report released today, Peter Lawson from Barclays maintained a Buy rating on Biomea Fusion (BMEA – Research Report), with a price target of $30.00. The company’s shares closed yesterday at $11.93.

According to TipRanks, Lawson is a 4-star analyst with an average return of 7.2% and a 44.47% success rate. Lawson covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Biomea Fusion, and Exelixis.

Currently, the analyst consensus on Biomea Fusion is a Strong Buy with an average price target of $49.38, representing a 313.91% upside. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $50.00 price target.

Based on Biomea Fusion’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $28.43 million. In comparison, last year the company had a GAAP net loss of $22.89 million

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Biomea Fusion (BMEA) Company Description:

Biomea Fusion Inc is a preclinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of irreversible small molecule drugs to treat patients with genetically defined cancers. The companies lead product candidate, BMF-219, is designed to be an orally bioavailable, potent and selective irreversible inhibitor of menin, an important transcriptional regulator known to play a direct role in oncogenic signaling in multiple cancers.