H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Beam Therapeutics (BEAM – Research Report) today and set a price target of $80.00.
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Patrick Trucchio’s rating is based on Beam Therapeutics’ promising advancements in their gene editing pipeline, particularly with their base editing therapies. The company is making significant progress with BEAM-101 for sickle cell disease and BEAM-302 for alpha-1 antitrypsin deficiency, alongside their ESCAPE platform for non-genotoxic conditioning. These developments have garnered substantial investor interest and demonstrate Beam’s capability in both ex vivo and in vivo clinical programs, with a clear regulatory strategy and readiness for commercialization.
Furthermore, upcoming milestones such as the completion of patient dosing in the BEACON trial for BEAM-101 and the initiation of a Phase 1 trial for BEAM-103 are expected to drive further value. The BEACON trial has shown promising results with BEAM-101, achieving significant clinical differentiation and potential as a best-in-class treatment for sickle cell disease. With a fully integrated manufacturing platform and proof-of-concept established, Beam is well-positioned to deliver innovative genetic medicines, justifying the reiterated Buy rating and $80 price target.
In another report released on June 25, J.P. Morgan also reiterated a Buy rating on the stock with a $48.00 price target.