JMP Securities analyst Silvan Tuerkcan has maintained their neutral stance on NTLA stock, giving a Hold rating yesterday.
Silvan Tuerkcan has given his Hold rating due to a combination of factors related to Intellia Therapeutics’ current position and future prospects. The company is progressing with two late-stage clinical programs, namely the Phase 3 HAELO study for hereditary angioedema and the Phase 3 MAGNITUDE study for ATTR cardiomyopathy. While these programs are advancing, the major milestones are not expected until 2026 or later, which suggests that significant catalysts for the stock are still some time away.
Moreover, Intellia’s recent restructuring to focus on these two programs has provided clarity on its operational expenditure and cash runway, which is projected to last until the first half of 2027. Although the company is making strides in its clinical trials, the anticipated commercial launches are slated between 2027 and 2030. Given the current valuation of the shares and the timeline for these developments, Tuerkcan believes that the stock is fairly valued, justifying the Hold rating.
In another report released yesterday, Citi also maintained a Hold rating on the stock with a $14.00 price target.