Promising Phase 1 Results and Strategic Focus Drive Buy Rating for Biomea Fusion

H.C. Wainwright analyst Joseph Pantginis has maintained their bullish stance on BMEA stock, giving a Buy rating on June 3.

Joseph Pantginis has given his Buy rating due to a combination of factors, primarily focusing on the promising early Phase 1 results of Biomea Fusion’s BMF-500 in treating relapsed/refractory acute leukemia (r/r AL). The data presented at EHA ’25 demonstrated that BMF-500, a covalent small molecule FLT3 inhibitor, was well-tolerated among patients and showed significant efficacy, with many participants experiencing reduced bone marrow blasts and favorable survival outcomes.
Additionally, Biomea Fusion’s strategic focus on becoming a fully metabolic disease-oriented company and its active pursuit of partnerships to further the BMF-500 program are seen as positive steps. The ongoing COVALENT-103 trial, which includes patients with both FLT3 mutations and wild-type FLT3, supports the potential of BMF-500 in addressing unmet medical needs in this patient population. These factors collectively contribute to Pantginis’s optimistic outlook and Buy recommendation for Biomea Fusion’s stock.

In another report released on June 3, Piper Sandler also initiated coverage with a Buy rating on the stock with a $7.00 price target.