In a report released yesterday, Yanan Zhu from Wells Fargo maintained a Buy rating on Intellia Therapeutics (NTLA – Research Report), with a price target of $50.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Yanan Zhu has given his Buy rating due to a combination of factors surrounding Intellia Therapeutics’ recent clinical updates. Despite the disclosure of a Grade 4 ALT and AST elevation in the Phase 3 MAGNITUDE study, the case was asymptomatic and did not require hospitalization or medical intervention. The company noted that this case does not meet the criteria for Hy’s law and is considered mild liver injury on the DILI scale, with expectations for the patient’s levels to return to baseline in the coming weeks.
Furthermore, the trajectory of this case mirrors a similar incident from a Phase 1 study, which resolved without any lasting effects. The ongoing enrollment in the Phase 3 MAGNITUDE study is proceeding as planned, with a low incidence rate of such adverse events. These factors, combined with the absence of regulatory intervention and the company’s proactive communication, contribute to Zhu’s positive outlook on the stock.
In another report released today, JonesTrading also reiterated a Buy rating on the stock with a $25.00 price target.
NTLA’s price has also changed dramatically for the past six months – from $15.620 to $7.450, which is a -52.30% drop .