FY2025 EPS Estimates for BEAM Reduced by Cantor Fitzgerald

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) - Analysts at Cantor Fitzgerald lowered 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.

A number of other brokerages have also commented on BEAM. Wells Fargo & Company decreased their price objective on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Barclays decreased their price objective on Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Finally, Guggenheim decreased their price objective on Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $48.45.

Beam Therapeutics Trading Down 1.3%

Shares of NASDAQ:BEAM traded down $0.23 during trading on Friday, hitting $16.94. 1,951,400 shares of the company's stock traded hands, compared to its average volume of 2,053,696. The company has a 50-day moving average price of $18.86 and a 200-day moving average price of $20.88. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -3.77 and a beta of 2.22. Beam Therapeutics has a 52 week low of $13.52 and a 52 week high of $35.25.

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

Institutional Investors Weigh In On Beam Therapeutics

Several institutional investors have recently modified their holdings of the business. ARK Investment Management LLC lifted its position in shares of Beam Therapeutics by 20.0% in the first quarter. ARK Investment Management LLC now owns 8,480,089 shares of the company's stock worth $165,616,000 after purchasing an additional 1,412,060 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Beam Therapeutics by 72.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,026,701 shares of the company's stock valued at $59,112,000 after acquiring an additional 1,273,559 shares during the period. Vanguard Group Inc. boosted its position in shares of Beam Therapeutics by 16.4% in the first quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company's stock valued at $173,256,000 after acquiring an additional 1,249,303 shares during the period. EcoR1 Capital LLC bought a new stake in Beam Therapeutics during the first quarter worth about $10,286,000. Finally, Woodline Partners LP grew its holdings in shares of Beam Therapeutics by 169.6% during the 1st quarter. Woodline Partners LP now owns 760,611 shares of the company's stock valued at $14,855,000 after purchasing an additional 478,491 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company's stock.

Insider Buying and Selling

In related news, insider Fmr Llc sold 48,374 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total value of $991,667.00. Following the transaction, the insider directly owned 2,073,665 shares in the company, valued at approximately $42,510,132.50. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 49,624 shares of company stock worth $1,015,628 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Beam Therapeutics Company Profile

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.