Intellia Therapeutics price target raised to $30 from $27 at Chardan

Chardan raised the firm’s price target on Intellia Therapeutics (NTLA) to $30 from $27 and keeps a Buy rating on the shares. The company this morning reported positive results from the global Phase III HAELO trial of lonvo-z in hereditary angioedema, the analyst tells investors in a research note. The firm says the trial met its primary and all key secondary endpoints. It views the data as “highly competitive with the best available chronic prophylactic data.” The market still underappreciates lonvo-z’s attack- and-therapy-free profile as a commercial and pharmacoeconomic differentiator, contends Chardan. It increased the drug’s probability of success in HAE to 90% from 75% on the data.