Biomea Fusion (NASDAQ:BMEA) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Biomea Fusion (NASDAQ:BMEA) issued its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.12, FiscalAI reports. The company had revenue of $0.09 million for the quarter.

Biomea Fusion Stock Performance

Shares of BMEA opened at $0.55 on Wednesday. The company has a market capitalization of $39.65 million, a price-to-earnings ratio of -1.89 and a beta of -0.14. The company’s 50 day simple moving average is $1.21 and its 200 day simple moving average is $1.34. Biomea Fusion has a 1 year low of $0.54 and a 1 year high of $2.24.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BMEA shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a report on Monday, September 28th. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Biomea Fusion in a research report on Wednesday, October 14th. Wall Street Zen lowered Biomea Fusion from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Citigroup reiterated a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th. Finally, Brookline Capital Markets started coverage on Biomea Fusion in a research report on Wednesday, October 7th. They set a “buy” rating for the company. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.60.

Biomea Fusion Company Profile

Biomea Fusion, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets. Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.