JonesTrading analyst Soumit Roy has maintained their neutral stance on BEAM stock, giving a Hold rating yesterday.
Soumit Roy has given his Hold rating due to a combination of factors surrounding Beam Therapeutics’ upcoming milestones and financial standing. The company is on the verge of significant developments in 2025, particularly with their Phase 1/2 trials for BEAM-302 targeting alpha-1 antitrypsin deficiency (AATD) and BEAM-101 for sickle cell disease (SCD). These trials are crucial as they represent the company’s first-in-human proof-of-concept data readouts, which could potentially lead to substantial advancements if the results are favorable.
Despite the promising pipeline, the Hold rating reflects a cautious stance, likely due to the inherent uncertainties associated with clinical trials and the need for further data to validate the efficacy of their treatments. Additionally, while Beam Therapeutics has a robust cash position of approximately $850.7 million, providing a runway into 2027, the estimated cash burn of $416 million annually suggests careful financial management will be essential as the company progresses through these pivotal stages.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a $31.00 price target.