JonesTrading analyst Soumit Roy has maintained their bullish stance on BEAM stock, giving a Buy rating on November 5.
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Soumit Roy has given his Buy rating due to a combination of factors related to Beam Therapeutics’ promising advancements in gene editing technologies. The company has demonstrated best-in-class results in its Phase 1/2 BEACON trial for sickle cell disease (SCD), achieving a 100% VOE-free rate and significant improvements in hemoglobin levels. This positions Beam as a leader in the ex vivo gene editing space, which is a compelling reason for the Buy rating.
Additionally, the ongoing developments in the AATD (Alpha-1 Antitrypsin Deficiency) trials further support this positive outlook. The initial data from the Phase 1/2 trial with BEAM-302 shows potential disease-modifying effects, particularly in patients with liver disease. The progress in both SCD and AATD trials underscores Beam’s potential to deliver transformative therapies, justifying the Buy recommendation.
In another report released on November 5, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BEAM in relation to earlier this year.