Jan. 21 at 2:17 PM
Bernstein⬆️
$BEAM's PT to
$41 from
$37 and reiterated at an Outperform rating.
$TAK -
$ARWR $WVE -
$GSK
Bernstein said in its note:
We increase our PT to
$41 following last week's positive regulatory update on the AATD program.
Briefly, the company announced it has aligned with FDA on an accelerated approval pathway for BEAM-302. There are always questions about how "real" the alignment is for these sorts of things, but we believe based on discussions with mgmt that this is about as real as it can get.
We think there is still a sizable gap between the current share price and fair value—we think it's at least conceivable that pharma majors might be interested now that FDA has provided greater clarity on the AATD regulatory path.
