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Why Is Beam Therapeutics (BEAM) Down 2.3% Since Last Earnings Report?
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A month has gone by since the last earnings report for Beam Therapeutics Inc. (BEAM - Free Report) . Shares have lost about 2.3% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Beam Therapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Beam Therapeutics' Q3 Earnings & Revenues Lag Estimates
Beam Therapeutics incurred a loss of $1.17 per share in the third quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.13. The company had recorded a loss of $1.22 per share in the year-ago quarter.
Total revenues, comprising license and collaboration revenues, came in at $14.3 million in the third quarter compared with $17.2 million reported in the year-ago period. The top line missed the Zacks Consensus Estimate of $15 million.
Quarter in Detail
Research and development expenses were $94.3 million in the third quarter, down almost 5.8% from the year-ago quarter’s level.
General and administrative expenses totaled $26.5 million, increasing around 4.3% year over year.
As of Sept 30, 2024, BEAM had cash, cash equivalents and marketable securities worth $925.8 million compared with $1.2 billion as of June 30, 2024. The company expects that its existing cash balance is likely to fund its operating expenses into 2027.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
VGM Scores
Currently, Beam Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Beam Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Beam Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, BioMarin Pharmaceutical (BMRN - Free Report) , has gained 0.5% over the past month. More than a month has passed since the company reported results for the quarter ended September 2024.
BioMarin reported revenues of $745.74 million in the last reported quarter, representing a year-over-year change of +28.3%. EPS of $0.91 for the same period compares with $0.46 a year ago.
BioMarin is expected to post earnings of $0.72 per share for the current quarter, representing a year-over-year change of +46.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.9%.
BioMarin has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
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Why Is Beam Therapeutics (BEAM) Down 2.3% Since Last Earnings Report?
A month has gone by since the last earnings report for Beam Therapeutics Inc. (BEAM - Free Report) . Shares have lost about 2.3% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Beam Therapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Beam Therapeutics' Q3 Earnings & Revenues Lag Estimates
Beam Therapeutics incurred a loss of $1.17 per share in the third quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.13. The company had recorded a loss of $1.22 per share in the year-ago quarter.
Total revenues, comprising license and collaboration revenues, came in at $14.3 million in the third quarter compared with $17.2 million reported in the year-ago period. The top line missed the Zacks Consensus Estimate of $15 million.
Quarter in Detail
Research and development expenses were $94.3 million in the third quarter, down almost 5.8% from the year-ago quarter’s level.
General and administrative expenses totaled $26.5 million, increasing around 4.3% year over year.
As of Sept 30, 2024, BEAM had cash, cash equivalents and marketable securities worth $925.8 million compared with $1.2 billion as of June 30, 2024. The company expects that its existing cash balance is likely to fund its operating expenses into 2027.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
VGM Scores
Currently, Beam Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Beam Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Beam Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, BioMarin Pharmaceutical (BMRN - Free Report) , has gained 0.5% over the past month. More than a month has passed since the company reported results for the quarter ended September 2024.
BioMarin reported revenues of $745.74 million in the last reported quarter, representing a year-over-year change of +28.3%. EPS of $0.91 for the same period compares with $0.46 a year ago.
BioMarin is expected to post earnings of $0.72 per share for the current quarter, representing a year-over-year change of +46.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.9%.
BioMarin has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.