Brokerages Expect Beam Therapeutics Inc. (NASDAQ:BEAM) to Post -$1.14 Earnings Per Share

Wall Street analysts predict that Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) will post earnings per share of ($1.14) for the current quarter, Zacks reports. Four analysts have made estimates for Beam Therapeutics’ earnings. The highest EPS estimate is ($0.87) and the lowest is ($1.55). Beam Therapeutics reported earnings per share of ($0.95) in the same quarter last year, which indicates a negative year-over-year growth rate of 20%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Beam Therapeutics will report full year earnings of ($3.84) per share for the current financial year, with EPS estimates ranging from ($6.29) to ($0.44). For the next financial year, analysts forecast that the firm will post earnings of ($4.96) per share, with EPS estimates ranging from ($7.73) to ($3.65). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Beam Therapeutics.

Beam Therapeutics (NASDAQ:BEAM – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.32) by $0.31. Beam Therapeutics had a negative net margin of 714.91% and a negative return on equity of 52.28%. The business had revenue of $8.40 million during the quarter, compared to the consensus estimate of $44.15 million. During the same quarter last year, the company posted ($3.35) earnings per share. The firm’s quarterly revenue was up 139900.0% compared to the same quarter last year.

BEAM has been the subject of a number of research analyst reports. Wedbush decreased their price objective on shares of Beam Therapeutics from $159.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Credit Suisse Group started coverage on shares of Beam Therapeutics in a research note on Thursday, April 28th. They issued a “neutral” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $122.50.

In related news, CEO John M. Evans sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $37.98, for a total transaction of $1,139,400.00. Following the completion of the transaction, the chief executive officer now owns 1,118,520 shares of the company’s stock, valued at $42,481,389.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John M. Evans sold 6,261 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $59.11, for a total transaction of $370,087.71. Following the transaction, the chief executive officer now directly owns 1,089,070 shares of the company’s stock, valued at approximately $64,374,927.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,373 shares of company stock valued at $2,706,284. 15.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BEAM. ARK Investment Management LLC lifted its position in Beam Therapeutics by 16.7% during the fourth quarter. ARK Investment Management LLC now owns 7,983,401 shares of the company’s stock valued at $636,197,000 after purchasing an additional 1,141,679 shares during the last quarter. FIL Ltd bought a new stake in Beam Therapeutics during the third quarter valued at approximately $62,221,000. Deep Track Capital LP bought a new stake in Beam Therapeutics during the fourth quarter valued at approximately $55,783,000. BlackRock Inc. lifted its position in Beam Therapeutics by 15.4% during the fourth quarter. BlackRock Inc. now owns 4,062,794 shares of the company’s stock valued at $323,764,000 after purchasing an additional 542,819 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Beam Therapeutics by 61.1% during the third quarter. Goldman Sachs Group Inc. now owns 1,044,082 shares of the company’s stock valued at $90,846,000 after purchasing an additional 396,038 shares during the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

NASDAQ BEAM opened at $29.96 on Monday. Beam Therapeutics has a 52-week low of $29.54 and a 52-week high of $138.52. The company has a 50-day simple moving average of $51.33 and a 200 day simple moving average of $67.93. The company has a market capitalization of $2.10 billion, a PE ratio of -5.04 and a beta of 1.59.

Beam Therapeutics Company Profile (Get Rating)

Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.

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