Citi analyst Yigal Nochomovitz initiated coverage of Biomea Fusion with a Buy rating and $20 price target. The company’s scientific rationale and emerging preclinical data for BMF-219 in targeting menin to treat type 2 diabetes is compelling, the analyst tells investors in a research note. If the upcoming Phase 2 readout is positive, the data could be transformative for the stock, says the firm. As such, Citi also opened a "90-day catalyst watch" on Biomea Fusion.
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Published first on TheFly
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