Biomea Fusion price target raised to $47 from $25 at Oppenheimer

Oppenheimer raised the firm’s price target on Biomea Fusion to $47 from $25 and keeps an Outperform rating on the shares after the company presented early results and hosted an investor conference update on the Diabetes BMF-219 program. The firm views BMF-219’s profile as potentially game-changing in the diabetes field, something which two Key Opinion Leaders had agreed with. The early Phase 1/2 COVALENT-111 results presented by Biomea are "eye-opening, to say the least," and could potentially be game changing for many diabetes patients, Oppenheimer adds.