Wedbush Forecasts Strong Price Appreciation for Beam Therapeutics (NASDAQ:BEAM) Stock

Key Points

• Wedbush raised its price target on Beam Therapeutics from $30 to $33 and maintained an “outperform” rating, implying about 29.2% upside from the stock’s price at the time of the report.
• Analyst views were mixed, though MarketBeat reported a consensus “Moderate Buy” rating and an average price target of $47.64.
• Beam’s latest reported quarter missed estimates: it posted a $1.28 loss per share versus a $1.17 expected loss, while revenue of $0.31 million fell short of the $8.75 million estimate and declined 96.8% year over year.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) had its target price upped by equities researchers at Wedbush from $30.00 to $33.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price objective suggests a potential upside of 29.20% from the stock's current price.

Several other equities analysts have also commented on the company. HC Wainwright reissued a "buy" rating on shares of Beam Therapeutics in a research report on Tuesday, October 27th. Canaccord Genuity Group dropped their price target on shares of Beam Therapeutics from $79.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, November 4th. Wall Street Zen lowered shares of Beam Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, October 31st. Guggenheim cut their price target on shares of Beam Therapeutics from $55.00 to $51.00 and set a "buy" rating on the stock in a report on Thursday, November 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $47.64.

Beam Therapeutics Stock Performance

Shares of NASDAQ:BEAM opened at $25.54 on Wednesday. The firm has a market capitalization of $2.64 billion, a PE ratio of -24.66 and a beta of 2.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 13.01 and a quick ratio of 13.00. The business has a 50-day moving average of $25.45 and a two-hundred day moving average of $27.96. Beam Therapeutics has a 12 month low of $20.23 and a 12 month high of $38.26.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.11). The firm had revenue of $0.31 million during the quarter, compared to analyst estimates of $8.75 million. Beam Therapeutics had a negative net margin of 73.04% and a negative return on equity of 32.76%. The business's revenue for the quarter was down 96.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.10) earnings per share. As a group, research analysts forecast that Beam Therapeutics will post -4.65 earnings per share for the current year.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, CEO John Evans sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the transaction, the chief executive officer owned 1,047,205 shares of the company's stock, valued at $24,682,621.85. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Beam Therapeutics during the second quarter worth $308,796,000. ARCH Venture Management LLC bought a new stake in Beam Therapeutics during the second quarter valued at $155,771,929. Dimensional Fund Advisors LP raised its holdings in shares of Beam Therapeutics by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company's stock worth $51,327,000 after purchasing an additional 206,696 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Beam Therapeutics during the first quarter worth $34,467,000. Finally, Bank of America Corp DE acquired a new stake in shares of Beam Therapeutics during the second quarter worth $24,733,000. 99.68% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Beam Therapeutics

Here are the key news stories impacting Beam Therapeutics this week:

• Positive Sentiment: Beam said its BEACON Phase 1/2 trial of risto-cel met its primary efficacy endpoint: patients were free of severe vaso-occlusive crises for at least 12 consecutive months. The study also met its primary safety and secondary endpoints, supporting a planned biologics license application as early as year-end 2026. Beam Therapeutics announces positive topline pivotal data
• Positive Sentiment: HC Wainwright maintained a Buy rating and modestly improved several earnings estimates, reflecting slightly lower projected losses. HC Wainwright earnings estimates
• Neutral Sentiment: Risto-cel could eventually compete with established sickle cell treatments Casgevy and Lyfgenia, but the trial results are not yet an approval or evidence of commercial success. Beam’s sickle cell therapy results tee up potential showdown
• Negative Sentiment: Reports said BEAM declined despite the trial win. The provided coverage does not identify a specific trigger; investors may be looking beyond the headline results to regulatory review, launch execution and competition. Beam drops despite Phase 1/2 trial win

About Beam Therapeutics

Beam Therapeutics is a biotechnology company developing genetic medicines using base editing, a form of gene editing designed to make precise changes to DNA. Its platform includes base-editing technologies and delivery systems intended to address diseases by altering the genetic instructions involved in their development. The company's research and development programs include potential treatments for genetic diseases, including sickle cell disease. Its work spans medicines made by editing a patient's cells outside the body as well as approaches intended to deliver gene editing directly to cells in the body.

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