Citizens reiterates Market Outperform rating on Biomea Fusion, $7 price target

Biomea Fusion (BMEA) reported Phase 1 MAD topline results showing dose-dependent weight loss (Day 29 cohorts 1–4: 1.5–3.2%; cohort 5: 6.1%) and mild-to-moderate adverse events. Analysts maintained bullish ratings, with Citizens setting a $7 target and HC Wainwright a $4 target, citing clinical progress.

State Street (STT) shares fell 6.4% in pre-market trading after Q3 results showed adjusted earnings of $3.69 per share, beating estimates, but sales missed expectations at $4.004 billion. Other stocks moving lower include Biomea Fusion (BMEA), Fastenal (FAST), and Bank of America (BAC).

Biomea Fusion reported Phase 1 results for BMF-650, showing 1.5%–6.1% weight loss across cohorts, with the highest dose achieving 6.1% reduction. The drug demonstrated good tolerability, with no severe adverse events. The company filed the results with the SEC on October 13, 2026.

Citizens reiterated a Market Outperform rating and $7.00 price target on Biomea Fusion (BMEA) after Phase 1 data for BMF-650 showed promising results. The stock trades at $1.26, with analyst targets ranging from $4 to $10. Biomea completed enrollment in a Phase II diabetes trial, with results expected in Q1 2027. Brookline Capital Markets initiated coverage with a Buy rating and $10.00 target. The company canceled a planned public offering due to market conditions.

Biomea Fusion (BMEA) shares dropped 28.58% to $0.90 in after-hours trading after announcing Phase 1 results for BMF-650, its weight management drug. Mean weight reduction ranged from 1.5% to 6.1% across cohorts, with no severe adverse events reported. The company plans further analysis and potential partnerships. BMEA has a market cap of $91.33M and fell 7.35% to $1.26 during regular trading.

Biomea Fusion (BMEA) reported Phase 1 results for BMF-650, its oral GLP-1 receptor agonist for obesity. The study showed weight reduction of 1.5% to 6.1% across cohorts, with mild to moderate side effects. The company plans further studies and seeks partnerships. BMEA shares fell 28.71% overnight.