Analyst Alec Stranahan sees 33% upside for BEAM after Prime Medicine arbitration resolves favorably for the company.
Bank of America Securities maintained its Buy rating on Beam Therapeutics (NASDAQ:BEAM) and set a $47 price target, implying over 33% upside from current levels. Analyst Alec Stranahan cited minimal impact from a recent arbitration resolution with Prime Medicine, as it applies only to Prime’s PM647 rather than its broader editing portfolio.
Stranahan highlighted Beam’s focus on executing its alpha-1 antitrypsin deficiency program, supported by strong BEAM-302 biomarker data. He views Prime as a distant competitor. Earlier in June, Beam received FDA approval to file an investigational new drug for BEAM-304, advancing its unified clinical platform for mutation-targeted base editors.