As previously reported, BofA analyst Greg Harrison downgraded Beam Therapeutics to Neutral from Buy with a price target of $35, down from $45. While still positive on Beam’s underlying platform for SCD and AATD, the firm notes that the market is “currently giving little credit to companies with distant derisking events” and thinks the stock “could trade sideways over the next year” given the time needed until “truly derisking” clinical data is reported.
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