Leerink Partners analyst Mani Foroohar has reiterated their bullish stance on BEAM stock, giving a Buy rating on March 11.
Mani Foroohar’s rating is based on the promising initial data from Beam Therapeutics’ BEAM-302 trial, which demonstrated significant efficacy in treating alpha-1 antitrypsin deficiency (AATD). The trial showed durable, dose-dependent increases in total and functional AAT, with early changes observed by Day 7 and sustained improvements through follow-up periods. The highest dose achieved a notable increase in total AAT levels and a substantial reduction in mutant Z-AAT, translating to functional benefits in neutrophil elastase inhibition and binding assays.
Furthermore, the safety profile of BEAM-302 was clean across all doses, with no serious adverse events or dose-limiting toxicities reported. Beam Therapeutics also announced a significant share offering, raising approximately $500 million, which extends their financial runway to 2028. These factors, combined with the company’s strategic plans for further trial phases and the positive market reaction, underpin Foroohar’s Buy rating for the stock.
Foroohar covers the Healthcare sector, focusing on stocks such as Moderna, Alnylam Pharma, and BridgeBio Pharma. According to TipRanks, Foroohar has an average return of -13.5% and a 36.32% success rate on recommended stocks.
In another report released on March 11, Bernstein also reiterated a Buy rating on the stock with a $37.00 price target.
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