As of June 26, 2023, Biomea Fusion (NASDAQ:BMEA) continues to receive a Buy rating from Citigroup analyst Yigal Nochomovitz, who has raised the price target from $53 to $90. This is a significant increase and suggests that the company is expected to perform well in the coming months.
Looking at the average one-year price target for Biomea Fusion, it currently stands at $42.43, with a high forecast of $57.75. This information is based on the analysis of seven Wall Street analysts who have offered their 12-month price targets in the last three months.
It is worth noting that Citigroup has been consistent in their coverage of Biomea Fusion, having maintained a Buy recommendation on May 18, 2023, and initiated coverage with the same recommendation on February 24, 2023. This suggests that the company is a strong performer and has attracted the attention of analysts.
Overall, analysts predict that Biomea Fusion’s stock has a predicted upside of 54.91% based on their 12-month price targets. This is a positive outlook for the company and indicates that it is expected to perform well in the near future.
BMEA Stock Opens Higher on June 26, 2023 with $1.1B Market Cap in Health Technology Industry
On June 26, 2023, BMEA stock opened at 33.00, which was significantly higher than the previous day’s close of 30.61. The volume of shares traded on that day was 111,919, which was much lower than the average volume of shares traded over the last three months, which was 916,886. The market cap of BMEA was $1.1B.
BMEA is a Health Technology company in the Pharmaceuticals: Major industry. The earnings growth for the next five years is not available. The P/E ratio of the company is NM, and the Price/Sales ratio is not available.
BMEA is expected to report its next earnings on August 9, 2023. The EPS forecast for this quarter is -$0.88. The annual revenue of the company in the last year was $0.00, and the annual profit was -$81.8M. The net profit margin of the company is not available.
Biomea Fusion Incs Stock Performance Draws Attention of Investors and Analysts in the Biotech Industry
Biomea Fusion Inc (BMEA) has been making waves in the biotech industry with its innovative approach to developing cancer treatments. On June 26, 2023, the company’s stock performance was closely watched by investors and analysts alike. According to data from CNN Money, the 12-month price forecasts for BMEA stock were optimistic, with a median target of 46.00, a high estimate of 60.00, and a low estimate of 32.00. The consensus among 8 polled investment analysts was to buy stock in BMEA, indicating a high level of confidence in the company’s potential for growth and profitability. BMEA’s long-term prospects were promising, despite the current quarter’s earnings per share being -$0.88, with sales of $0.00. Investors were eagerly awaiting the reporting date for this quarter, set for August 09, 2023.
Source: beststocks.com
