Oppenheimer lowered the firm’s price target on Intellia Therapeutics to $70 from $80 and keeps an Outperform rating on the shares. The firm notes Intellia reported Q3 financial results with collaboration revenue of $12.0M and OpEx of $143.1M, ending Q3 with $992.5M cash. Oppenheimer is “encouraged to see” the FDA cleared NTLA-2001 IND application, and Intellia expects to initiate the pivotal Phase 3 MAGNITUDE study in ATTR-CM by year-end, supported by additional data recently presented. Meanwhile, the company remains on track to complete enrollment of the NTLA-2002 Phase 2 study in HAE this year, and a pivotal study could start as early as Q3 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on NTLA:
- Intellia Therapeutics Receives European Union Orphan Drug Designation for NTLA-2002, an Investigational In Vivo CRISPR Genome Editing Treatment for Hereditary Angioedema
- Best Stocks to Buy Now, 11/14/2023, According to Top Analysts
- Intellia Therapeutics price target lowered to $95 from $100 at Wells Fargo
- Intellia Therapeutics price target raised to $72 from $65 at Canaccord
- Intellia Therapeutics price target lowered to $31 from $40 at Citi