Beam Therapeutics Inc (BEAM) PT Raised to $69 at Stifel

Stifel analyst Benjamin Burnett raised the price target on Beam Therapeutics Inc (NASDAQ: BEAM) to $69.00 (from $66.00) while maintaining a Buy rating.

The analyst commented: "We derive a one-year target price of $69 for BEAM based on a DCF analysis. Our valuation focuses on both ex vivo (BEAM-101) and in vivo (Alpha 1 antitrypsin [A1AT]) programs including probability-weighted sales of BEAM-101 (50% PoS in sickle cell disease [SCD]) and BEAM-302 (20% PoS in alpha-1 antitrypsin deficiency [AATD]). As a clinical-stage company in the CRISPR/Cas9 space, we use a 14% discount rate and a 1% terminal growth rate, representing a ~$5.7B market capitalization."

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