H.C. Wainwright has adjusted its price target for Biomea Fusion (BMEA, Financial) from $40 down to $18 while maintaining a Buy rating on the company's stock. This change follows the release of the company's first-quarter financial results. The firm has decided to exclude type 1 diabetes from its future forecasts and has delayed the expected launch date for icovamenib as a treatment for type 2 diabetes to 2031, which was previously set for 2029.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Biomea Fusion Inc (BMEA, Financial) is $25.00 with a high estimate of $54.00 and a low estimate of $3.00. The average target implies an upside of 1,150.00% from the current price of $2.00. More detailed estimate data can be found on the Biomea Fusion Inc (BMEA) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Biomea Fusion Inc's (BMEA, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
