Morgan Stanley downgraded Intellia Therapeutics (NTLA) to Equal Weight from Overweight with a price target of $11, down from $56. The firm now expects a “more measured launch” of the company’s lead drug for transthyretin, and sees a lack of catalysts this year given recent discontinuation of its NTLA-3001 alpha-1 antitrypsin deficiency program. Intellia’s therapies face competition from therapies that do not edit the genes, the analyst tells investors in a research note.
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