BMO Capital says the first-ever clinical data from Beam Therapeutics (BEAM)’ base editing platform in sickle cell disease, or SCD, demonstrate a “robust” efficacy and safety profile for BEAM-101 with differentiating characteristics compared with other gene editing approaches. Though the patient death post BEAM-101 treatment may trigger investor questions, the firm doesn’t think it is drug-related or has a readthrough to base editing, the analyst tells investors. The firm, which sees BEAM-101 clinical data as “positive” and “further derisking base editing,” has an Outperform rating and $57 price target on Beam shares, which are down $2.85, or 12%, to $21.51 in pre-market trading.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BEAM:
- Beam Therapeutics reports Q3 EPS ($1.17), consensus ($1.13)
- BEAM Upcoming Earnings Report: What to Expect?
- Beam Therapeutics (BEAM): The Next Frontier in Biotech
- Stifel says early WVE-006 data de-risks DNA editing approaches like Beam’s ‘302
- Disney initiated, Cisco upgraded: Wall Street’s top analyst calls
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
