Beam Therapeutics (NASDAQ:BEAM) Earns Buy Rating from Analysts at Stifel Nicolaus

Equities research analysts at Stifel Nicolaus assumed coverage on shares of Beam Therapeutics (NASDAQ:BEAM) in a research note issued to investors on Friday, PriceTargets.com reports. The brokerage set a “buy” rating and a $120.00 price target on the stock. Stifel Nicolaus’ price target indicates a potential upside of 26.76% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Wedbush boosted their price objective on shares of Beam Therapeutics from $114.00 to $149.00 and gave the company an “outperform” rating in a research report on Tuesday, June 29th. Zacks Investment Research raised shares of Beam Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 21st. Finally, Bank of America began coverage on shares of Beam Therapeutics in a report on Friday, September 10th. They issued a “buy” rating and a $150.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $119.86.

Shares of BEAM stock opened at $94.67 on Friday. Beam Therapeutics has a 1 year low of $22.13 and a 1 year high of $138.52. The firm has a fifty day moving average price of $101.19 and a 200-day moving average price of $90.18. The company has a market cap of $6.28 billion, a price-to-earnings ratio of -13.60 and a beta of 1.00.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Monday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.49). Beam Therapeutics had a negative net margin of 1,698,870.50% and a negative return on equity of 94.82%. The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $8.33 million. During the same period in the previous year, the firm earned ($0.69) EPS. As a group, sell-side analysts expect that Beam Therapeutics will post -6.06 earnings per share for the current fiscal year.

In other Beam Therapeutics news, CFO Terry-Ann Burrell sold 45,000 shares of the stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $107.69, for a total transaction of $4,846,050.00. Following the completion of the transaction, the chief financial officer now owns 69,809 shares of the company’s stock, valued at approximately $7,517,731.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John M. Evans sold 20,000 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $99.49, for a total transaction of $1,989,800.00. The disclosure for this sale can be found here. Insiders sold a total of 213,239 shares of company stock valued at $23,224,303 in the last ninety days. 0.74% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Beam Therapeutics during the 1st quarter valued at about $30,000. Arkadios Wealth Advisors purchased a new stake in shares of Beam Therapeutics during the 2nd quarter valued at about $31,000. Laurel Wealth Advisors LLC raised its position in shares of Beam Therapeutics by 100.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 150 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Beam Therapeutics during the 1st quarter valued at about $54,000. Finally, AllSquare Wealth Management LLC purchased a new stake in shares of Beam Therapeutics during the 1st quarter valued at about $61,000. Hedge funds and other institutional investors own 67.30% of the company’s stock.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia.

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Analyst Recommendations for Beam Therapeutics (NASDAQ:BEAM)

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