Guggenheim analyst Debjit Chattopadhyay lowered the firm’s price target on Beam Therapeutics (BEAM) to $55 from $78 and keeps a Buy rating on the shares. Estimated BEAM-101 development and launch spending, despite Beam’s $1.2B in cash to fund operations into 2028, are “important considerations” given the spend and time to profitability for Vertex Pharmaceuticals’ (VRTX) Casgevy, the analyst tells investors following Beam’s Q1 report.
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