Intellia Therapeutics: Promising Early Data on Nex-Z Met with Caution Due to Small Sample Size and Need for Further Trials

Analyst David Lebowitz of Citi maintained a Hold rating on Intellia Therapeutics (NTLA – Research Report), retaining the price target of $10.00.

David Lebowitz has given his Hold rating due to a combination of factors related to Intellia Therapeutics’ recent clinical data and the broader context of its research. The company presented promising 24-month data from its Phase 1 study of Nex-Z in patients with ATTRv-PN, showing a significant reduction in serum TTR protein levels and improvements in polyneuropathy scores. However, the small sample size of the study limits the conclusiveness of these results, and larger pivotal trials are necessary to fully understand the potential of Nex-Z in the ATTR treatment landscape.
Despite the positive data, the need for further research and the inherent risks associated with early-stage clinical trials contribute to the Hold rating. The expected share price return of 17.6% reflects a neutral stance, acknowledging both the potential upside and the high risk involved. Therefore, while the initial findings are encouraging, more comprehensive Phase 3 data is essential to determine the long-term viability and market position of Nex-Z.

In another report released on May 8, J.P. Morgan also maintained a Hold rating on the stock with a $12.00 price target.