Citi ups Biomea Fusion target, adds ‘upside 90-day catalyst watch’

Citi raised the firm’s price target on Biomea Fusion (BMEA) to $7 from $6 and keeps a Buy rating on the shares. Citi also added an “upside 90-day catalyst watch” on Biomea. The firm sees investor interest increasing in company’s oral GLP-1 candidate BMF-650 when it reports 28-day weight reduction data in healthy overweight or obese volunteers from the Phase 1 GLP-131 study in Q2.