Piper Sandler analyst Joseph Catanzaro raised the firm’s price target on Biomea Fusion to $40 from $16 and keeps an Overweight rating on the shares. Data from the Phase II study of BMF-219 in type 2 diabetes provides significant early validation for this novel mechanism of action, with A1c reduction of 1% at week 4 for the highest exposure cohort, well ahead of what would be indicative of an active therapy at this early point in time, the analyst tells investors in a research note. While lots of data points remain to be generated, Piper Sandler believes these early data warrant layering T2D as a potential opportunity.
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Read More on BMEA:
- Biomea Fusion Announces Proposed Public Offering of Common Stock
- Biomea Fusion Reports Fourth Quarter and Full Year 2022 Financial Results and Corporate Highlights
- Biomea Fusion announces data from ongoing Phase II study of BMF-219
- Biomea Fusion to Host Conference Call and Webcast to Discuss Initial Phase II Clinical Data for BMF-219 in Subjects with Type 2 Diabetes on March 28th, 2023 at 8:30 a.m. ET
- Biomea Fusion to participate in a conference call with Truist