In a report released today, Kostas Biliouris from BMO Capital maintained a Buy rating on Beam Therapeutics (BEAM – Research Report), with a price target of $57.00. The company’s shares closed yesterday at $27.86.
Biliouris covers the Healthcare sector, focusing on stocks such as 4D Molecular Therapeutics, BioMarin Pharmaceutical, and Ionis Pharmaceuticals. According to TipRanks, Biliouris has an average return of 4.9% and a 59.34% success rate on recommended stocks.
Currently, the analyst consensus on Beam Therapeutics is a Moderate Buy with an average price target of $44.45.
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BEAM market cap is currently $2.27B and has a P/E ratio of -6.67.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BEAM in relation to earlier this year. Most recently, in October 2023, Ciaramella Giuseppe, the President and CSO of BEAM bought 90,900.00 shares for a total of $60,903.00.
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Beam Therapeutics (BEAM) Company Description:
Beam Therapeutics, Inc. develops and commercializes DNA base editing technologies for the treatment of human disease. Its licensed technology platform, which includes access to base editing technologies and associated technologies that enhance the scope of base editing. The company was founded by David R. Liu, Feng Zhang and J. Keith Joung on January 25, 2017 and is headquartered in Cambridge, MA.
Read More on BEAM:
- Beam Therapeutics Highlights Progress Across Base Editing Portfolio and Outlines 2024 Anticipated Milestones
- The Smid-cap biotech stocks to own in 2024, according to Bernstein
- Beam Therapeutics to Present at the 42nd Annual J.P. Morgan Healthcare Conference
- BofA downgrades Beam Therapeutics, thinks shares may ‘trade sideways’
- BofA gets more bearish on Beam Therapeutics, downgrades shares
