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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Read More on BEAM:
- Beam Therapeutics price target lowered to $70 from $75 at Wells Fargo
- Beam Therapeutics: Promising Developments and Strong Financial Position Justify Buy Rating
- Beam Therapeutics: Promising Growth Prospects and Strategic Advancements Support Buy Rating
- Beam Therapeutics price target lowered to $25 from $31 at Barclays
- Beam Therapeutics Reports Strong Q1 2025 Progress
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