Beam Inc (BEAM) PT Raised to $115 at Jefferies on Continued Execution towards IND in H2
- Boeing, travel stocks pull Wall Street lower as virus cases rise
- Kansas City Southern (KSU) Soars as Bidding War Brews After Canadian National Railway (CNI) Makes a $33.7 Billion Offer
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Boeing (BA) Down 3% After CFO - Aged 54 - Retires, Seen as an 'Odd' Move
- Tesla (TSLA): Problems in China Mounting as Communist Party Officials Ask Company to 'Respect Chinese Consumers and Comply with Local Laws'
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Jefferies analyst Michael Yee raised the price target on Beam Inc (NASDAQ: BEAM) to $115.00 (from $85.00) after the company reported in-line Q4 results, with continued execution towards the clinic and reiterating submission of first IND in H2:21. There has been alot of industry discussion around recent MDS/AML incidence for competitor lenti platform and potential impact to CRSPR editing platforms that use the same conditioning regimen. The analyst expects this to have limited (if any) impact to BEAM with strong Pro forma cash of ~$545M providing plenty of runway to fund 2022-23+ and at least 1-2 INDs.
The analyst reiterated the Buy rating, stating "Shares continue to be volatile on the risk-on vs risk-off environment. Fundamentals are positive, but we acknowledge the stock continues to be somewhat at the whim of market sentiment around innovation and risk-on/risk-off. Longer-term and fundamentally, we see room for additional value creation over 12 mos as the company completes IND enabling studies, files and receives acceptance of its IND in H2:21, and enters the clinic by next year."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FinecoBank (FBK:IM) PT Raised to EUR16 at Berenberg
- flatexDEGIRO AG (FTKn:GR) (FNNTF) PT Raised to EUR130 at Berenberg
- Sandstorm Gold Ltd. (SSL:CN) (SAND) PT Raised to Cdn$15.40 at Stifel Canada
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!