Truist upgraded Biomea Fusion to Buy from Hold with a $54 price target. Following the clinical hold lift for the company’s lead drug BMF-219 in type 2 diabetes, the stock’s key overhang is removed, the analyst tells investors in a research note. The firm says the near-term focus is on the Phase 2b data readout by the end of 2024. The available Phase 1/2 data give Truist confidence into the Phase 2b expansion data and positive results will allay investor concerns, contends the analyst. The firm is bullish on BMF-219.