#4 - Beam Therapeutics (NASDAQ:BEAM)
Beam Therapeutics Inc. (NASDAQ: BEAM) offers an approach to gene editing called base editing, which is is distinct from CRISPR-Cas9 technology in that it acts as a pencil and eraser that edits a genetic sequence.
Even with several candidates in late-stage trials it may be several years before treatments are commercially available. However, a partnership with Pfizer Inc. (NYSE: PFE) is a key reason that Beam has $1.2 billion in cash, which the company reports will keep it funded through 2027.
Since bankruptcy is always a concern with small biotech companies, knowing Beam has a cash stockpile can be a reason to get involved with the stock. Analysts have a consensus Hold rating on the stock with a $43.33 price target that would be a 76% upside from the stock’s closing price on August 7, 2024.
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.
Read More - Current Price
- $26.04
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $44.18 (69.7% Upside)
