JonesTrading analyst Soumit Roy has maintained their bullish stance on BEAM stock, giving a Buy rating yesterday.
Soumit Roy has given his Buy rating due to a combination of factors including Beam Therapeutics’ promising advancements in their gene editing programs. The company is making significant progress with its Phase 1/2 trial of BEAM-302 for alpha-1 antitrypsin deficiency (AATD), demonstrating effective editing levels and a clean safety profile. These developments are crucial as they mark an important step in the gene editing space, particularly with the use of an in vivo gene editor.
Despite potential regulatory challenges with the new CBER head, Beam’s strategic execution and upcoming data releases, such as the anticipated Sickle cell data and further AATD data, present multiple inflection points that could drive stock performance. The company’s financial position, with substantial cash reserves, also supports its ongoing research and development efforts, reinforcing the Buy rating.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $55.00 price target.