JPMorgan analyst Eric Joseph upgraded Beam Therapeutics to Overweight from Neutral with a price target of $40, up from $38. Core to the upgrade thesis is the expectation of alpha-1 antitrypsin deficiency being a rising therapeutic theme in 2024 and BEAM-302 being a “compelling gene therapy candidate with best-in-class disease modifying potential across the full breadth of patients,” the analyst tells investors in a research note. The firm sees an early biomarker readout from the BEAM-302 Phase 1 study initiating in the first half of 2024 “being immensely value accretive for shares.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BEAM:
- Beam Therapeutics price target lowered to $66 from $95 at Stifel
- Beam Therapeutics Highlights Progress Across Base Editing Portfolio and Outlines 2024 Anticipated Milestones
- The Smid-cap biotech stocks to own in 2024, according to Bernstein
- Beam Therapeutics to Present at the 42nd Annual J.P. Morgan Healthcare Conference
- BofA downgrades Beam Therapeutics, thinks shares may ‘trade sideways’