William Blair analyst Sami Corwin has reiterated their bullish stance on BEAM stock, giving a Buy rating today.
Sami Corwin has given his Buy rating due to a combination of factors related to Beam Therapeutics’ promising initial data from their Phase I/II trial of BEAM-302. The trial results demonstrated rapid and sustained increases in functional alpha-1 antitrypsin (AAT) levels, which are crucial for treating alpha-1 antitrypsin deficiency (AATD). These increases were dose-dependent and maintained over several months, indicating the potential for long-term efficacy.
Furthermore, the treatment showed significant reductions in the mutant Z-AAT protein, which is a key differentiator from competitors. The reductions in Z-AAT, especially in the 60 mg cohort, align with preclinical data and suggest a shift towards a healthier genetic profile. Additionally, the increase in neutrophil elastase binding activity supports the functionality of the corrected AAT, reinforcing the therapeutic potential of BEAM-302. These compelling clinical outcomes underpin Corwin’s optimistic outlook on Beam Therapeutics’ stock.
According to TipRanks, Corwin is a 4-star analyst with an average return of 5.5% and a 42.77% success rate. Corwin covers the Healthcare sector, focusing on stocks such as Solid Biosciences, Krystal Biotech, and Sarepta Therapeutics.
In another report released today, BMO Capital also maintained a Buy rating on the stock with a $57.00 price target.
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