Barclays lowered the firm’s price target on Beam Therapeutics (BEAM) to $26 from $35 and keeps an Equal Weight rating on the shares. The company’s Q3 results featured initiation of GMP manufacturing site and highlighted on track development of its clinical programs, the analyst tells investors in a research note. The firm adds that Beam’s deal with Eli Lilly (LLY) strengthened the balance sheet and extended the cash runaway to the second half of 2026.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BEAM:
- Beam Therapeutics Reports Pipeline and Business Updates and Third Quarter 2023 Financial Results
- Beam Therapeutics to Participate in 2023 Jefferies London Healthcare Conference
- Beam Therapeutics reports Q3 EPS ($1.22), consensus ($1.35)
- BEAM Earnings this Week: How Will it Perform?
- Beam Therapeutics participates in a conference call with JPMorgan