Analyst Debanjana Chatterjee of JonesTrading maintained a Buy rating on Intellia Therapeutics, retaining the price target of $25.00.
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Debanjana Chatterjee has given his Buy rating due to a combination of factors including the promising long-term data from Intellia Therapeutics’ ongoing Phase 1 trial for their ATTR-PN treatment, nex-z. The data indicates that nex-z continues to demonstrate significant and sustained reduction in TTR levels over a three-year period, which is coupled with a favorable safety profile.
Additionally, the treatment not only stabilizes but potentially improves neuropathy, which is a notable advancement over the current standard of care. The potential for nex-z to become a leading treatment in the ATTR-PN market, especially among younger patients, is bolstered by its minimal treatment burden and extended benefit duration. These factors, combined with the absence of significant long-term risks, suggest that nex-z could significantly impact the treatment landscape for ATTR-PN.
In another report released on September 24, Wolfe Research also maintained a Buy rating on the stock with a $25.00 price target.