Beam could see significant upside over next 6-12 months, says Wedbush

Wedbush notes that in concurrent Q3 earnings and ASH abstract releases, Beam Therapeutics (BEAM) announced positive topline results for the Phase 1/2 BEACON study of BEAM-101 in sickle cell disease, or SCD, and first NHP data for the ESCAPE platform, which were “also encouraging.” Beyond the ASH meeting, the firm expects multiple data catalysts over the coming year and “could see significant upside movement over the next 6-12 months” for the shares, the analyst tells investors. The firm has an Outperform rating and $57 price target on Beam shares, which are off earlier lows to be down fractionally at $24.24 heading toward midday.