BEACON Trial Data Makes Beam Therapeutics (BEAM) an Attractive Buy

Beam Therapeutics (NASDAQ:BEAM) is one of the most promising mid-cap healthcare stocks under $50.

On December 9, H.C. Wainwright analyst Patrick Trucchio reaffirmed his bullish stance on Beam Therapeutics (NASDAQ:BEAM). He rated the stock Buy with a target price of $80, implying a substantial 201% upside.

Trucchio’s rating and huge upside forecasts are based on highly encouraging data from Beam Therapeutics’ (NASDAQ:BEAM) BEACON trial. The trial results indicate that risto-cel possesses unique potential to become an innovative and effective cure for sickle cell disease (SCD). This is due to their ability to alter hemoglobin levels, cure anemia, and prevent vaso-occlusive crises.

According to Trucchio, what also sets Beam Therapeutics (NASDAQ:BEAM) apart from competitors in the ex vivo hematology space is its highly differentiated manufacturing process for risto-cel. Using a vein-to-vein timeline in the process makes it highly scalable and gives the company a competitive edge.

The consensus 1-year median price target for Beam Therapeutics (NASDAQ:BEAM) is $43. Compared with Trucchio’s forecasts, this represents roughly 62% upside from the current trading level, which remains very attractive. As of December 19 closing, Beam Therapeutics (NASDAQ:BEAM) stock has received 13 analyst ratings, of which 11 were Buy calls, and the remaining 2 were Hold calls.

Beam Therapeutics (NASDAQ:BEAM) is a biotechnology company that develops precision genetic medicines and also engages in gene therapies and genome editing research. Since their launch, Beam Therapeutics (NASDAQ:BEAM) has been spearheading the CRISPR-based editing that facilitates the development of advanced genetic medicines.

While we acknowledge the potential of BEAM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.