Beam Therapeutics: De-Risked Late-Stage Pipeline, Clear FDA Pathways, and Strong Cash Runway Underscore Buy Rating and $80 Target

Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Beam Therapeutics. The associated price target remains the same with $80.00.

Patrick Trucchio has given his Buy rating due to a combination of factors related to Beam Therapeutics’ advancing clinical and regulatory position. He highlights the recent agreement with the FDA on an accelerated approval pathway for BEAM-302 in alpha-1 antitrypsin deficiency, which allows the use of AAT biomarker data over a 12‑month period as the primary basis for a future BLA. This regulatory clarity, along with Beam’s plan to enroll additional patients at the optimal dose and to provide updated data and pivotal trial plans by the end of 1Q26, meaningfully reduces development uncertainty around BEAM-302. He also notes that inclusion of both BEAM-302 and risto-cel in the FDA’s CDRP program should streamline CMC-related work and support expedited timelines.

Trucchio further emphasizes Beam’s strong financial position, pointing to an estimated $1.25 billion in cash and marketable securities at the end of 2025, which he believes is sufficient to fund operations through 2029 and cover pivotal BEAM-302 development as well as the anticipated risto-cel launch. He views Beam as transitioning from a research-focused platform to a late-stage, execution-oriented company, underscored by the completion of enrollment in both adult and adolescent cohorts of the BEACON trial in sickle cell disease and the completion of all clinical-dose manufacturing for risto-cel. Finalized FDA discussions on the risto-cel BLA package, expected to mirror precedents from approved SCD gene therapies, support the possibility of a BLA filing as early as late 2026. In his view, this combination of de-risked programs, approaching commercial inflection points, and sufficient capital to avoid near-term dilution justifies maintaining a Buy rating and the associated upside to his $80 price target.

In another report released today, Evercore ISI also maintained a Buy rating on the stock with a $35.00 price target.