Beam Therapeutics Inc. (BEAM) Price Target: Is It Set To Rise Or Fall In Price?

0
82

Beam Therapeutics Inc. (NASDAQ:BEAM) finished Friday with an addition of $0.4 to close at $39.11, an upside of 1.03 percent. An average of 771,800 shares of common stock have been traded in the last five days. There was a fall of -$2.85 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 837,640 shares traded, while the 50-day average volume stands at 839,912.

BEAM stock has decreased by -15.33% in the last month. The company shares reached their 1-month lowest point of $36.33 on 12/28/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $27.77 and a high of $86.36 in 52 weeks. It has reached a new high 2 times so far this year and lost -50.92% or -$40.58 in price. In spite of this, the price is down -54.71% from the 52-week high.


Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.

Sponsored


Insider Transactions

BEAM stock investors should be aware that Beam Therapeutics Inc. (BEAM) stock had its last reported insider trading activity 19 days ago on Dec 12. In this transaction, the insider spent $2,178,229. CEO, Evans John M., disposed of 20,000 shares at a price of $46.36 on Oct 31. The insider now owns more than $927,203 worth of shares. Prior to that, CEO Evans John M. went on to Sale 30,000 shares at $46.31 each on Oct 31. An amount of $1,389,225 was transacted.

Valuation Metrics

Beam Therapeutics Inc. (BEAM) has a trailing price-to-sales (P/S) ratio at 31.14, the price-to-book (PB) ratio at 3.85, and the price-to-cash flow ratio at 72.72.

Financial Health

The quick ratio of Beam Therapeutics Inc. for the three months ended September 29 was 4.60, and the current ratio was 4.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.01 for the quarter ending September 29. Its gross profit as reported stood at $51.84 million compared to revenue of $51.84 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Beam Therapeutics Inc.’s return on assets was -22.20%.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$109.58 million in the quarter, while revenues of -$71.95 million were grew 74.34%. The analyst consensus anticipated Beam Therapeutics Inc.’s latest quarter earnings to come in at -$1.31 per share, but it turned out to be -$1.56, a -19.10% surprise. For the quarter, EBITDA amounted to -$91.05 million. Shareholders own equity worth $70.47 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Beam Therapeutics Inc. (BEAM) price momentum. RSI 9-day as of the close on 30 December was 41.05%, suggesting the stock is Neutral, with historical volatility in this time frame at 65.71%.

As of today, BEAM’s price is $38.60 -6.79% or -$2.85 from its 5-day moving average. BEAM is currently trading -14.66% lower than its 20-day SMA and -35.84% lower than its 100-day SMA. However, the stock’s current price level is -12.80% below the SMA50 and -34.64% below the SMA200.

The stochastic %K and %D were 12.14% and 7.70%, respectively, and the average true range (ATR) was 2.85. With the 14-day stochastic at 18.21% and the average true range at 2.98, the RSI (14) stands at 41.83%. The stock has reached -1.80 on the 9-day MACD Oscillator while the 14-day reading was at -3.22.

Analyst Ratings

BMO Capital Markets upgraded Beam Therapeutics Inc. (NASDAQ: BEAM) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Market perform. The consensus rating for Beam Therapeutics Inc. (BEAM) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BEAM, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 10 others rate it as a “buy”.

What is BEAM’s price target for the next 12 months?

Analysts predict a range of price targets between $49.00 and $125.00, with a median target of $75.00. Taking a look at these predictions, the average price target given by analysts for Beam Therapeutics Inc. (BEAM) stock is $79.08.

LEAVE A REPLY

Please enter your comment!
Please enter your name here