FY2025 EPS Estimate for Beam Therapeutics Lifted by Analyst

Beam Therapeutics Inc. (NASDAQ:BEAM) – Research analysts at Cantor Fitzgerald raised their FY2025 earnings per share estimates for shares of Beam Therapeutics in a research report issued on Wednesday, March 12th. Cantor Fitzgerald analyst R. Bienkowski now expects that the company will earn ($3.27) per share for the year, up from their previous estimate of ($3.55). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Beam Therapeutics’ current full-year earnings is ($4.57) per share.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. The company had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm’s quarterly revenue was down 90.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS.

BEAM has been the topic of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Monday, March 10th. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada raised their price objective on Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 26th. Scotiabank raised Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective on the stock in a research note on Monday, March 10th. Finally, Jones Trading raised Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Beam Therapeutics presently has a consensus rating of “Buy” and an average target price of $50.82.

Beam Therapeutics Stock Down 3.3 %

BEAM stock opened at $24.23 on Friday. The business’s fifty day moving average is $27.09 and its 200-day moving average is $26.01. The company has a market cap of $2.42 billion, a P/E ratio of -13.77 and a beta of 1.91. Beam Therapeutics has a twelve month low of $20.84 and a twelve month high of $36.75.

Hedge Funds Weigh In On Beam Therapeutics

Several hedge funds have recently modified their holdings of BEAM. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Beam Therapeutics by 59.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock valued at $87,044,000 after acquiring an additional 1,328,414 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Beam Therapeutics by 8.2% in the 4th quarter. ARK Investment Management LLC now owns 7,068,029 shares of the company’s stock valued at $175,287,000 after acquiring an additional 536,930 shares in the last quarter. Casdin Capital LLC grew its holdings in shares of Beam Therapeutics by 61.3% in the 4th quarter. Casdin Capital LLC now owns 1,250,000 shares of the company’s stock valued at $31,000,000 after acquiring an additional 475,000 shares in the last quarter. State Street Corp grew its holdings in shares of Beam Therapeutics by 12.5% in the 3rd quarter. State Street Corp now owns 3,929,557 shares of the company’s stock valued at $96,274,000 after acquiring an additional 437,402 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its holdings in shares of Beam Therapeutics by 11.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,957,611 shares of the company’s stock valued at $98,109,000 after acquiring an additional 404,782 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christine Bellon sold 1,241 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total value of $30,627.88. Following the completion of the transaction, the insider now owns 102,968 shares in the company, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Evans sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the transaction, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. The trade was a 3.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Beam Therapeutics Company Profile

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.