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H.C. Wainwright Remains a Buy on Biomea Fusion (BMEA)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Biomea Fusion (BMEAResearch Report) today and set a price target of $16.00. The company’s shares opened today at $12.79.

According to TipRanks, Pantginis is an analyst with an average return of -18.2% and a 31.77% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as PDS Biotechnology, Humanigen, and Astria Therapeutics.

Biomea Fusion has an analyst consensus of Strong Buy, with a price target consensus of $18.25, representing a 42.69% upside. In a report released on August 18, Oppenheimer also maintained a Buy rating on the stock with a $25.00 price target.

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Based on Biomea Fusion’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $17.26 million. In comparison, last year the company had a GAAP net loss of $8.4 million

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMEA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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