Beam Therapeutics (BEAM): Evaluating Valuation After Analyst Coverage Highlights Precision Medicine Progress

Recent coverage from Evercore ISI has put Beam Therapeutics (BEAM) in the spotlight, highlighting progress in gene editing as well as interest around upcoming BEAM-302 data, which is expected to be released in early 2026.

See our latest analysis for Beam Therapeutics.

Beam Therapeutics has seen a burst of momentum, with the share price climbing 53% over the past 90 days as investors react to analyst optimism and the buzz surrounding BEAM-302’s future data. Even so, the one-year total shareholder return remains negative. This reflects both recent excitement and the longer climb back from past declines.

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With shares now well off their lows and analyst price targets implying room for further gains, the key question is whether Beam Therapeutics remains undervalued or if the market has already accounted for all future growth potential.

Most Popular Narrative: 73.7% Undervalued

With Beam Therapeutics’ narrative fair value set at $65 per share versus a last close of $25.03, proponents see a major disconnect between price and potential. This context sets the tone for an in-depth, conviction-driven bull thesis that hinges on technological breakthroughs and pipeline catalysts.

This sum-of-the-parts rNPV analysis of only the two lead assets (BEAM-101 and BEAM-302) derives a base-case intrinsic value of $65 per share. This valuation is based on the following key assumptions from the report: • BEAM-302 (AATD): Assigned a 45% Probability of Success (POS). The model assumes a $3.0 million price and projects $6.0 billion in peak unadjusted annual sales. This program alone contributes $38 per share to the rNPV model.

Read the complete narrative.

Want to know what’s powering that sky-high value? One core program with blockbuster sales potential anchors the thesis. The specific sales, success rates, and assumed pricing behind this number might surprise you. Curious which pipeline candidate drives nearly all the narrative’s upside? Don’t miss the deeper details—see the math for yourself.

Result: Fair Value of $65 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, setbacks in clinical trials or delays in regulatory approval could quickly challenge the bullish case and change investor sentiment.

Find out about the key risks to this Beam Therapeutics narrative.

Another View: Price-to-Sales Sends a Warning

While the narrative fair value points to Beam Therapeutics being deeply undervalued, a look at the price-to-sales ratio tells a different story. At 44.3 times sales, Beam’s valuation is dramatically higher than both the industry average of 13.1x and a peer group average of 20.5x. Compared to its estimated fair ratio of 0x, investors are paying a real premium. Is this confidence in the pipeline, or are expectations simply running hot?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own Beam Therapeutics Narrative

If you see the story differently or want to dig through the numbers yourself, it’s easy to craft your own perspective in minutes. Do it your way

A great starting point for your Beam Therapeutics research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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