Truist notes that stock is up following the “positive announcement” today that the FDA has lifted the clinical hold on BMF-219 in trials of the company’s investigational covalent menin inhibitor BMF-219 in type 2 and type 1 diabetes. Assuming $250M to $500M in peak sales, the firm’s fair value ranges from $20 to $50 per share, noted the analyst, who has a Hold rating and no price target on the stock. Biomea Fusion shares are up 48c, or 5.5%, to $9.25 in afternoon trading.
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