UPDATE: Stifel Starts Beam Inc (BEAM) at Hold

January 5, 2021 4:21 PM EST
Get Alerts BEAM Hot Sheet
Price: $68.14 +2.93%

Rating Summary:
    9 Buy, 8 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 15 | New: 8
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(Updated - January 5, 2021 4:23 PM EST)

(updating comment)

Stifel analyst Benjamin Burnett initiates coverage on Beam Inc (NASDAQ: BEAM) with a Hold rating and a price target of $84.00.

The analyst comments "We’re initiating coverage of BEAM with a Hold rating that is predicated on our view that the stock will trade in line with broader sentiment for the gene editing/cell therapy sector, and we're cautious into near-term catalysts for the industry.Despite a recent run in shares to levels rarely achieved by a preclinical company, we think near-term price action will be driven by binary, competitor readouts before investor attention becomes more squarely focused on BEAM's lead programs. In our view, CRISPR Therapeutics (CRSP, Hold, $158.01) has become a bellwether for the sector, and upcoming, long-term data for its CAR-T asset CTX110 has the propensity to influence sentiment for BEAM. While we’re encouraged by BEAM’s early preclinical data for lead programs, our Hold rating is based on trepidation into near-term CRSP updates, and the potential for less than favorable results to provide negative read-through to BEAM."

For an analyst ratings summary and ratings history on Beam Inc click here. For more ratings news on Beam Inc click here.

Shares of Beam Inc closed at $83.14 yesterday.

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