Intellia Therapeutics upgraded at Wolfe on sentiment, valuation

As previously reported, Wolfe Research analyst Andy Chen upgraded Intellia Therapeutics (NTLA) to Outperform from Peer Perform with a $21 price target With enterprise value now seen at about zero, the firm believes there is “a real (long-only)-friendly story,” adding that “even if our call on sentiment reversal is too early,” the stock’s valuation “more than justifies an upgrade.” The “quick” enrollment rate in the Phase 3 trial of nexiguran ziclumeran for the treatment of hereditary ATTR amyloidosis with polyneuropathy is “a leading indicator of future revenue potential,” the analyst added.