Beam Therapeutics Inc. [BEAM] stock is trading at $48.79, up 6.13%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BEAM shares have gain 11.27% over the last week, with a monthly amount glided 30.73%, and seem to be holding up well over a long-time horizon.
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On 9, January 2023, Beam Therapeutics Reports Progress Across Base Editing Portfolio and Outlines Key Anticipated Milestones. In a post published today on Yahoo Finance, BEACON Trial of BEAM-101 in Sickle Cell Disease Ongoing with Data from Multiple Patients Expected in 2024; Expansion Phase Initiation Expected in 2023.
From an analyst’s perspective:
Beam Therapeutics Inc. [NASDAQ: BEAM] stock has seen the most recent analyst activity on February 01, 2023, when Cantor Fitzgerald initiated its Overweight rating and assigned the stock a price target of $62. Previously, BMO Capital Markets upgraded its rating to Outperform on December 20, 2022, and elevated its price target to $66. On December 13, 2022, Citigroup initiated with a Buy rating and assigned a price target of $62 on the stock. BMO Capital Markets started tracking the stock assigning a Market Perform rating and suggested a price target of $41 on June 17, 2022. Credit Suisse initiated its recommendation with a Neutral and recommended $62 as its price target on April 28, 2022. Guggenheim started tracking with a Buy rating for this stock on January 05, 2022, and assigned it a price target of $130. In a note dated October 19, 2021, SVB Leerink initiated an Outperform rating and iterated a target price of $117 on this stock.
Beam Therapeutics Inc. [BEAM] stock has fluctuated between $27.77 and $80.00 over the past year. Currently, Wall Street analysts expect the stock to reach $76.57 within the next 12 months. Beam Therapeutics Inc. [NASDAQ: BEAM] shares were valued at $48.79 at the most recent close of the market. An investor can expect a potential return of 56.94% based on the average BEAM price forecast.
Analyzing the BEAM fundamentals
Beam Therapeutics Inc. [NASDAQ:BEAM] reported sales of 15.8 billion for the most recent quarter, which represents a growth of 1970.60%. Gross Margin for this corporation currently stands at +68.29% with Operating Margin at -757.01%, Pretax Margin comes in at -714.91%, and Net Margin reading is -714.91%.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 46.68 points at the first support level, and at 44.57 for the second support level. However, for the 1st resistance point, the stock is sitting at 50.82, and for the 2nd resistance point, it is at 52.85.
Beam Therapeutics Inc. [BEAM] reported earnings per share of -$1.02 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.08/share, meaning a difference of $0.06 and a surprise factor of 5.60%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were -$1.01 per share as compared to estimates of -$1.32 per share, a difference of $0.31 representing a surprise of 23.50%.
Ratios To Look Out For
For context, Beam Therapeutics Inc.’s Current Ratio is 4.60. Further, the Quick Ratio stands at 5.96, while the Cash Ratio is 4.52. Considering the valuation of this stock, the price to sales ratio is 98.73, the price to book ratio is 6.59.
Transactions by insiders
Insider trading, which has resulted in 6 insider purchases of 85,092 shares and 7 insider sales of 104,744 shares in the past three months, is now the topic of our analysis. Recent insider trading involved Burrell Terry-Ann, Chief Financial Officer, that happened on Jan 27 when 36152.0 shares were sold. Chief Financial Officer, Burrell Terry-Ann completed a deal on Jan 26 to sell 1102.0 shares. Meanwhile, Chief Financial Officer Burrell Terry-Ann sold 14810.0 shares on Jan 24.