Biomea Fusion price target lowered to $16 from $128 at D. Boral Capital

D. Boral Capital lowered the firm’s price target on Biomea Fusion (BMEA) to $16 from $128 and keeps a Buy rating on the shares. The company announced a shift to focus on metabolic disease and, at least initially, type I diabetics, the analyst tells investors in a research note. As a result, the firm refocused its model on type I market and removed type II patients from Biomea’s model “for the movement.” Boral says that while it believes in the broader potential of icovamenib in both type I and II patients and have not factored in weight loss-obesity, it chooses “not to fight the market” and cut the price target