-$1.10 Earnings Per Share Expected for Beam Therapeutics Inc. (NASDAQ:BEAM) This Quarter

Analysts predict that Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) will announce ($1.10) earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Beam Therapeutics’ earnings. The highest EPS estimate is ($0.80) and the lowest is ($1.53). Beam Therapeutics reported earnings per share of ($3.35) during the same quarter last year, which indicates a positive year-over-year growth rate of 67.2%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Beam Therapeutics will report full-year earnings of ($4.40) per share for the current financial year, with EPS estimates ranging from ($6.29) to ($3.45). For the next fiscal year, analysts forecast that the firm will report earnings of ($4.95) per share, with EPS estimates ranging from ($7.73) to ($3.65). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Beam Therapeutics.

Beam Therapeutics (NASDAQ:BEAM – Get Rating) last released its earnings results on Monday, February 28th. The company reported ($0.85) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.17. Beam Therapeutics had a negative net margin of 714.91% and a negative return on equity of 52.28%. The firm had revenue of $51.07 million for the quarter, compared to analyst estimates of $9.58 million. During the same period in the prior year, the firm earned ($1.69) earnings per share.

A number of research firms recently weighed in on BEAM. SVB Leerink upped their target price on shares of Beam Therapeutics from $116.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, January 10th. Wedbush dropped their price target on shares of Beam Therapeutics from $159.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 28th. Finally, Guggenheim initiated coverage on shares of Beam Therapeutics in a research note on Wednesday, January 5th. They issued a “buy” rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Beam Therapeutics currently has a consensus rating of “Buy” and an average price target of $126.33.

In other news, insider Fmr Llc sold 19,466 shares of the stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $50.41, for a total value of $981,281.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Terry-Ann Burrell sold 1,787 shares of the stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $59.11, for a total value of $105,629.57. Following the completion of the sale, the chief financial officer now directly owns 38,278 shares of the company’s stock, valued at $2,262,612.58. The disclosure for this sale can be found here. Insiders sold 29,373 shares of company stock valued at $1,566,884 over the last three months. Corporate insiders own 15.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley raised its position in Beam Therapeutics by 44.9% in the second quarter. Morgan Stanley now owns 301,634 shares of the company’s stock worth $38,824,000 after acquiring an additional 93,439 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Beam Therapeutics by 6.6% in the third quarter. Commonwealth Equity Services LLC now owns 7,774 shares of the company’s stock worth $676,000 after acquiring an additional 478 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Beam Therapeutics by 13.9% in the third quarter. Banque Cantonale Vaudoise now owns 1,139 shares of the company’s stock worth $99,000 after acquiring an additional 139 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Beam Therapeutics in the third quarter worth $573,000. Finally, SG Americas Securities LLC raised its position in Beam Therapeutics by 69.0% in the third quarter. SG Americas Securities LLC now owns 20,667 shares of the company’s stock worth $1,798,000 after acquiring an additional 8,440 shares in the last quarter. 71.17% of the stock is owned by hedge funds and other institutional investors.

Shares of BEAM stock traded up $1.77 during trading hours on Tuesday, reaching $45.75. 31,157 shares of the stock were exchanged, compared to its average volume of 1,042,896. The business’s fifty day moving average is $61.58 and its two-hundred day moving average is $73.61. Beam Therapeutics has a 12-month low of $43.11 and a 12-month high of $138.52. The firm has a market capitalization of $3.14 billion, a P/E ratio of -7.69 and a beta of 1.23.

About Beam Therapeutics (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.

Further Reading