Beam Therapeutics (NASDAQ:BEAM) Given New $30.00 Price Target at Wedbush

Beam Therapeutics (NASDAQ:BEAM) had its price objective lifted by Wedbush from $28.00 to $30.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

BEAM has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating on shares of Beam Therapeutics in a research note on Tuesday, October 27th. Bank of America reissued a “buy” rating and set a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Canaccord Genuity Group upped their target price on shares of Beam Therapeutics from $78.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, William Blair upgraded shares of Beam Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Beam Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Beam Therapeutics Trading Up 5.5%

Shares of BEAM stock opened at $27.79 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57. The stock has a market capitalization of $2.87 billion, a P/E ratio of -26.72 and a beta of 2.23. The company has a 50 day moving average price of $25.75 and a 200 day moving average price of $28.08. Beam Therapeutics has a fifty-two week low of $20.23 and a fifty-two week high of $38.26.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, November 3rd. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.11). The business had revenue of $0.31 million for the quarter, compared to analyst estimates of $8.75 million. Beam Therapeutics had a negative return on equity of 31.32% and a negative net margin of 73.04%. Beam Therapeutics’s quarterly revenue was down 96.8% compared to the same quarter last year. During the same quarter last year, the company earned ($1.10) earnings per share. Equities research analysts predict that Beam Therapeutics will post -4.49 EPS for the current fiscal year.

Insider Activity at Beam Therapeutics

In other news, CEO John Evans sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the sale, the chief executive officer owned 1,047,205 shares of the company’s stock, valued at approximately $24,682,621.85. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Beam Therapeutics during the 2nd quarter worth approximately $308,796,000. ARCH Venture Management LLC acquired a new position in shares of Beam Therapeutics in the 2nd quarter valued at $155,771,929. ADAR1 Capital Management LLC purchased a new position in shares of Beam Therapeutics in the 1st quarter valued at $34,467,000. Bank of America Corp DE purchased a new position in shares of Beam Therapeutics in the 2nd quarter valued at $24,733,000. Finally, Elmind Capital LP purchased a new position in shares of Beam Therapeutics in the 2nd quarter valued at $16,347,920. 99.68% of the stock is owned by institutional investors and hedge funds.

Beam Therapeutics News Summary

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

• Positive Sentiment: Beam said it will present updated BEACON Phase 1/2 data on risto-cel for sickle cell disease at the American Society of Hematology meeting. The company highlighted early, sustained improvements in patients’ reported physical function, pain, fatigue, and well-being, and said a U.S. BLA submission could come as early as year-end 2026. Company announcement
• Positive Sentiment: Wedbush raised its price target to $30 from $28 and reiterated an Outperform rating, signaling a more favorable view of the stock’s prospects. Wedbush price-target update
• Neutral Sentiment: Canaccord trimmed its target to $78 from $79 but maintained a Buy rating, leaving a broadly bullish recommendation despite the small reduction. Canaccord analyst ratings
• Neutral Sentiment: Beam also outlined plans to start a Phase 1/2 trial of BEAM-304 for phenylketonuria in early 2027, adding a future development milestone but not an immediate clinical result. BEAM-304 trial plans
• Negative Sentiment: Third-quarter results missed expectations: Beam reported a loss of $1.28 per share versus the $1.17 consensus, while revenue was $0.31 million against estimates of $8.75 million and fell 96.8% year over year. Quarterly results

Beam Therapeutics Company Profile

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines for patients with serious diseases. The company’s platform uses base editing, a form of gene editing designed to make targeted changes to individual DNA letters without creating double-strand breaks. Beam is also advancing related editing technologies and delivery systems intended to improve the precision and effectiveness of genetic treatments.

Beam’s pipeline includes investigational programs for diseases such as sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and glycogen storage disease type Ia.