Oppenheimer assumed coverage of Biomea Fusion with an unchanged Outperform rating and $60 price target. The analyst believes the stock trades at a “considerable discount to fair value” despite BMF-219’s clinical hold. Management told the firm they were confident that there was a path forward for this drug.
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Read More on BMEA:
- Biomea Fusion Reports Second Quarter 2024 Financial Results and Corporate Highlights
- Largest borrow rate increases among liquid names
- Biomea Fusion initiated with a Neutral at Rodman & Renshaw
- Biomea Fusion downgraded to Hold from Buy at Truist
- Biomea Fusion price target lowered to $15 from $50 at H.C. Wainwright
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