H.C. Wainwright analyst Joseph Pantginis raised the firm’s price target on Biomea Fusion to $50 from $37 and keeps a Buy rating on the shares after the company presented new clinical data from the Phase 2 COVALENT-111 trial evaluating the covalent menin inhibitor, BMF-219, as a potential treatment for patients with type 2 diabetes. The analyst says BMF-219 stands out with initial off-treatment period results and that dose escalation progressing as planned.
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Published first on TheFly
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