Cantor Fitzgerald Analysts Lower Earnings Estimates for BEAM

Key Points

• Analysts at Cantor Fitzgerald have revised their FY2025 earnings per share (EPS) forecast for Beam Therapeutics down from ($3.48) to ($4.42), maintaining a "Strong-Buy" rating for the stock.
• Beam Therapeutics reported Q2 earnings of ($1.00) EPS, slightly better than the consensus estimate of ($1.04), but their revenue fell by 28.0% year-over-year.
• Barclays and Guggenheim both reduced their target prices for Beam Therapeutics, with Barclays dropping from $25.00 to $21.00 and Guggenheim from $78.00 to $55.00, while the average price target now sits at $48.45.

Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) - Equities researchers at Cantor Fitzgerald decreased their FY2025 earnings estimates for Beam Therapeutics in a report released on Wednesday, August 6th. Cantor Fitzgerald analyst E. Schmidt now expects that the company will earn ($4.42) per share for the year, down from their prior forecast of ($3.48). Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for Beam Therapeutics' current full-year earnings is ($4.57) per share. Cantor Fitzgerald also issued estimates for Beam Therapeutics' FY2026 earnings at ($4.10) EPS.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Guggenheim dropped their price objective on shares of Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Barclays dropped their price objective on shares of Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $48.45.

Beam Therapeutics Stock Down 1.3%

Shares of Beam Therapeutics stock traded down $0.24 during trading hours on Friday, reaching $17.62. 1,793,674 shares of the company's stock were exchanged, compared to its average volume of 2,325,175. Beam Therapeutics has a 1 year low of $13.52 and a 1 year high of $35.25. The company has a market capitalization of $1.78 billion, a P/E ratio of -3.92 and a beta of 2.22. The business has a fifty day moving average of $18.84 and a two-hundred day moving average of $20.98.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.04) by $0.04. Beam Therapeutics had a negative net margin of 661.31% and a negative return on equity of 43.15%. The business had revenue of $8.47 million during the quarter, compared to analyst estimates of $13.29 million. During the same quarter in the prior year, the firm earned ($1.11) earnings per share. The company's revenue for the quarter was down 28.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC boosted its stake in Beam Therapeutics by 3.4% during the second quarter. Intech Investment Management LLC now owns 46,205 shares of the company's stock worth $786,000 after buying an additional 1,530 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in Beam Therapeutics by 7.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 21,131 shares of the company's stock worth $359,000 after buying an additional 1,434 shares during the period. Geode Capital Management LLC boosted its stake in Beam Therapeutics by 2.5% during the second quarter. Geode Capital Management LLC now owns 2,254,261 shares of the company's stock worth $38,350,000 after buying an additional 54,806 shares during the period. Allworth Financial LP boosted its stake in Beam Therapeutics by 7,080.0% during the second quarter. Allworth Financial LP now owns 2,513 shares of the company's stock worth $43,000 after buying an additional 2,478 shares during the period. Finally, Profund Advisors LLC boosted its stake in Beam Therapeutics by 3.0% during the second quarter. Profund Advisors LLC now owns 26,183 shares of the company's stock worth $445,000 after buying an additional 758 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total transaction of $991,667.00. Following the completion of the transaction, the insider owned 2,073,665 shares of the company's stock, valued at $42,510,132.50. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 49,624 shares of company stock worth $1,015,628 over the last ninety days. Company insiders own 3.50% of the company's stock.

About Beam Therapeutics

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.