D. Boral Capital lowered the firm’s price target on Biomea Fusion (BMEA) to $16 from $128 and keeps a Buy rating on the shares. The company announced a shift to focus on metabolic disease and, at least initially, type I diabetics, the analyst tells investors in a research note. As a result, the firm refocused its model on type I market and removed type II patients from Biomea’s model “for the movement.” Boral says that while it believes in the broader potential of icovamenib in both type I and II patients and have not factored in weight loss-obesity, it chooses “not to fight the market” and cut the price target
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Read More on BMEA:
- Biomea Fusion to become diabetes, obesity medicines company
- Biomea Fusion reports new preclinical data on icovamenib-semaglutide study
- Biomea Fusion Advances Diabetes Treatment with Positive Study Results
- Biomea’s icovamenib meets HbA1c standards in T2D, says H.C. Wainwright
- Biomea Fusion price target lowered to $50 from $60 at Oppenheimer
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