#2 - Beam Therapeutics (NASDAQ:BEAM)
For investors looking for stocks that have the potential to double their money, the biotechnology sector is a good place to start. And Beam Therapeutics Inc. (NASDAQ: BEAM) is presenting a nice set up for you to consider.
Beam is a gene editing company. As many investors know, gene editing will be one of the hottest sectors for the next decade. The current “standard” is CRISPR/Cas9 technology which breaks both DNA strands. Beam takes an approach known as Prime Editing that only breaks one strand. The company touts this as a more precise, more accurate, and safer platform.
Two areas for investors to watch closely with any biotech company are its pipeline and its cash burn. On the first front, the candidate that is furthest along in the company’s pipeline may reach its endpoint in 2025. If successful, that would be a huge win for Prime Editing.
And in terms of cash burn, it will always be a concern. But a partnership with Pfizer, Inc. (NYSE: PFE) brought $300 million in the door in 2022 and may bring over $1 billion in additional revenue throughout the partnership that currently runs through 2025.
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
- $25.05
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $44.91 (79.3% Upside)
