Intellia Therapeutics price target lowered to $37 from $47 at RBC Capital

RBC Capital analyst Luca Issi lowered the firm’s price target on Intellia Therapeutics (NTLA) to $37 from $47 and keeps an Outperform rating on the shares after its Q4 results. The company’s clinical execution remains on track though the management has sharpened its focus on cost containment, the analyst tells investors in a research note. The firm adds that Intellia focusing on the late-stage pipeline is the right pragmatic decision, and RBC remains a buyer on the stock that is “best positioned for in vivo gene editing” and given its “three highly de-risked assets”.