H.C. Wainwright raised the firm’s price target on Biomea Fusion to $40 from $15 and keeps a Buy rating on the shares after the company said the clinical holds for the two ongoing Phase 1/2 clinical trials evaluating BMF-219 have been lifted by the FDA. The regulatory decision validates BMF-219’s clinical safety, and thus far, supports its efficacy as a first-in-class menin inhibitor for the treatment of diabetes, the analyst tells investors in a research note.
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Read More on BMEA:
- Biomea Fusion upgraded to Buy from Hold at Truist
- Biomea Fusion price target raised to $9 from $5 at Barclays
- Biomea Fusion upgraded to Buy from Neutral at Rodman & Renshaw
- Truist sees fair value of $20-$50 per share after Biomea Fusion hold lifted
- Biomea Fusion says FDA lifts clinical hold on BMF-219 trials