Biomea Fusion up after positive data from diabetes drug study

Biomea Fusion

26/06/2023 14:24

** Shares of biopharmaceutical company Biomea Fusion
 BMEA.O  up 10.27% at $33.75 premarket
    ** Co after market on Friday announced positive data in
mid-stage study of diabetes drug  urn:newsml:reuters.com:*:nGNX9kWjW5 
    ** Atleast 5 brokerages have raised PT following Friday's
positive data 
    ** Barclays raises PT to $60 from $50; Citigroup raises PT
to $90 from $53; H.C. Wainwright raises PT to $50 from $37;
Piper Sandler raises PT to $45 from $40; J.P. Morgan raises PT
to $51 from $38
    ** All eight brokerages covering the stock rate it "buy" or
higher; their median PT is $47
    ** As of Friday's close BMEA had more than tripled YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))