Beam Therapeutics price target raised to $35 from $27 at RBC Capital

RBC Capital raised the firm’s price target on Beam Therapeutics to $35 from $27 and keeps a Sector Perform rating on the shares after its Q4 results. The company successfully dosed and achieved engraftment with the first Sickle Cell Diseasepatient in Q4 and remains on track to complete sentinel dosing/begin dose expansion in the first half of the year, with first look at data expected in the second half, the analyst tells investors in a research note. RBC notes it is updating its model to reflect a more favorable regulatory environment for Sickle Cell Disease and the addition of GSD1a.