Intellia Therapeutics price target lowered to $31 from $40 at Citi

Citi analyst David Lebowitz lowered the firm’s price target on Intellia Therapeutics to $31 from $40 and keeps a Neutral rating on the shares post the Q3 report. While the depth and durability of NTLA-2001’s early efficacy signal is encouraging, doubts on the marketing opportunity for a gene editing candidate remain, the analyst tells investors in a research note. The firm says NTLA-2001 will face high scrutiny on safety, especially in a market with effective alternatives.