Bank of America Securities analyst Alec Stranahan has maintained their neutral stance on BEAM stock, giving a Hold rating on March 3.
Alec Stranahan has given his Hold rating due to a combination of factors surrounding Beam Therapeutics’ recent developments. The initial data from the phase 1 trial of BEAM-302 in alpha-1 antitrypsin deficiency (AATD) showed promising results, particularly at the highest dose where total AAT levels surpassed the protective therapeutic threshold. This suggests potential for BEAM-302 as a one-time treatment option addressing both lung and liver implications of AATD.
However, while the safety profile appears favorable with no significant adverse effects, further follow-up is necessary to confirm the durability of the treatment’s impact. The company’s financial position is bolstered by a recent $500 million financing, extending its cash runway into 2028. Despite these positive signs, the need for additional data to verify long-term efficacy and the competitive landscape in the AATD treatment space contribute to the Hold rating. The market will be closely watching for updates in the second half of 2025 to assess the treatment’s durability and potential improvements at higher doses.
In another report released on March 3, Scotiabank also maintained a Hold rating on the stock with a $25.00 price target.
BEAM’s price has also changed slightly for the past six months – from $23.650 to $25.690, which is a 8.63% increase.
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