Citi raised the firm’s price target on Beam Therapeutics (BEAM) to $64 from $56 and keeps a Buy rating on the shares. With positive BEAM-302 data in hand, Beam has established clinical proof-of-concept in alpha-1 antitrypsin deficiency while simultaneously validating its proprietary liver-targeting lipid-nanoparticle as the foundation for its in vivo liver-targeted franchise, the analyst tells investors in a research note. Citi raised its BEAM-302 probability of sucess to 60% and incorporated the offering into its model.
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Read More on BEAM:
- Promising BEAM-302 Trial Results and Strong Financial Position Support Buy Rating for Beam Therapeutics
- Beam Therapeutics: Promising Phase 1 Results for BEAM-302 in AATD, Hold Rating Due to Long-term Efficacy Uncertainty
- Beam Therapeutics upgraded yesterday at Scotiabank after positive AATD data
- Cathie Wood’s ARK Investment buys 485K shares of Beam Therapeutics today
- JonesResearch upgrades Beam Therapeutics to Buy on de-risking data
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