Beam Therapeutics Inc reports results for the quarter ended in June - Earnings Summary

Beam Therapeutics

06/08/2024 14:32

* Beam Therapeutics Inc  BEAM.OQ  reported a quarterly
adjusted
loss of $1.11​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of $-1.08.  The mean expectation of fifteen analysts for the
quarter was for a loss of $1.13 per share. Wall Street expected
results to range from $-1.33 to -91 cents per share.
    * Revenue fell 41.5% to $11.77 million from a year ago;
analysts
expected $14.18 million. 
    * Beam Therapeutics Inc's reported EPS for the quarter was a
loss
of $1.11​.
    * The company reported a quarterly loss of $91.05 million.
    * Beam Therapeutics Inc shares had risen by 9.3% this
quarter and
lost 5.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.6%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Beam Therapeutics
Inc is $56.00 
This summary was machine generated from LSEG data August 6 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -1.13          -1.11          Beat
 Mar. 31 2024      -1.42          -1.21          Beat
 Dec. 31 2023      -1.01          1.73           Beat
 Sep. 30 2023      -1.36          -1.22          Beat