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Stock impact report

BEACON Trial Data Makes Beam Therapeutics (BEAM) an Attractive Buy [Yahoo! Finance]

Beam Therapeutics Inc. (BEAM) 
Company Research Source: Yahoo! Finance
Wainwright analyst Patrick Trucchio reaffirmed his bullish stance on Beam Therapeutics (NASDAQ:BEAM). He rated the stock Buy with a target price of $80, implying a substantial 201% upside. Dragon Images/Shutterstock.com Trucchio's rating and huge upside forecasts are based on highly encouraging data from Beam Therapeutics' (NASDAQ:BEAM) BEACON trial. The trial results indicate that risto-cel possesses unique potential to become an innovative and effective cure for sickle cell disease (SCD). This is due to their ability to alter hemoglobin levels, cure anemia, and prevent vaso-occlusive crises. According to Trucchio, what also sets Beam Therapeutics (NASDAQ:BEAM) apart from competitors in the ex vivo hematology space is its highly differentiated manufacturing process for risto-cel. Using a vein-to-vein timeline in the process makes it highly scalable and gives the company a competitive edge. The consensus 1-year median price target for Beam Therapeutics (NASDAQ:BEAM) is $43. Co Show less Read more
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