Intellia Therapeutics price target lowered to $40 from $60 at Oppenheimer

Oppenheimer lowered the firm’s price target on Intellia Therapeutics (NTLA) to $40 from $60 and keeps an Outperform rating on the shares after management provided a corporate update and highlighted its strategic priorities for 2025. Notably, Intellia decided to discontinue NTLA-3001 plus select early R&D programs along with a workforce reduction of about 27% to extend the financial runway into the first half of 2027. This sharpened focus aims to support late-stage development and commercialization of nex-z and NTLA-2002. While clinical execution for NTLA-2002 and nex-z remains the top priority with additional data from Phase 1/2 studies expected this year, Intellia plans to establish commercial leadership in the second half of 2025 with NTLA-2002’s BLA filing expected next year, Oppenheimer adds.