13 Best Pharma Stocks to Buy According to Wall Street Analysts

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6. Beam Therapeutics Inc. (NASDAQ:BEAM)

Analyst Upside: 106.55%

Number of Hedge Fund Holders: 28

Beam Therapeutics Inc. (NASDAQ:BEAM) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. On July 1, H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Beam Therapeutics Inc. (NASDAQ:BEAM) and set a price target of $80.00. The analyst based the optimistic rating on the company’s gene editing pipeline, especially with their base editing therapies.

Beam Therapeutics Inc. (NASDAQ: BEAM) is making considerable progress in several areas, including BEAM-101 for sickle cell disease, BEAM-302 for alpha-1 antitrypsin deficiency, and the ESCAPE platform for non-genotoxic conditioning. This progress has generated considerable investor interest in Beam Therapeutics Inc. (NASDAQ:BEAM), as it reflects the company’s potential in both ex vivo and in vivo clinical programs, with commercialization readiness and a clear regulatory strategy.

The analyst further reasoned that upcoming milestones are anticipated to drive additional value for Beam Therapeutics Inc. (NASDAQ:BEAM), including the initiation of a Phase 1 trial for BEAM-103 and the completion of patient dosing in the BEACON trial for BEAM-10. The company has established proof-of-concept and a fully integrated manufacturing platform, which, according to the analyst, fully equips it to deliver innovative genetic medications and supports the Buy rating.

Beam Therapeutics Inc. (NASDAQ:BEAM) is a biotechnology company that develops precision genetic medicines through base editing, a technology that allows efficient and predictable single-base changes at targeted genomic sequences. The company’s lead programs focus on sickle cell disease and alpha-1 antitrypsin deficiency.

Beam Therapeutics Inc. (NASDAQ:BEAM) is advancing programs in other genetic diseases as well, along with oncology and immunology. Its primary programs include BEAM-101, Engineered Stem Cell Antibody Paired Evasion (ESCAPE), BEAM-302, BEAM-301, and BEAM-201.

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