Truist Financial analyst Joon Lee maintained a Buy rating on Intellia Therapeutics (NTLA – Research Report) today and set a price target of $50.00.
Joon Lee has given his Buy rating due to a combination of factors that highlight Intellia Therapeutics’ promising potential in the biotech sector. The company’s NTLA-2002 is on track to become the first in vivo genome editing therapeutic for hereditary angioedema (HAE), with its Phase 3 trial enrollment progressing ahead of schedule. This positions Intellia to potentially launch this groundbreaking treatment by 2027, extending its operational runway into the first half of 2027.
Despite the competitive landscape, particularly from Alnylam’s developments, Intellia’s platform remains strong. The company’s strategic restructuring and pipeline reprioritization, including the discontinuation of NTLA-3001, demonstrate a focused approach to its most promising assets. While challenges remain, such as financing and legal disputes, the demand for Intellia’s innovative therapies and its clear path towards regulatory approval support the Buy rating, albeit with a moderated commercial outlook reflected in the lowered price target of $50.
In another report released on February 28, Barclays also maintained a Buy rating on the stock with a $26.00 price target.