JonesTrading analyst Debanjana Chatterjee has maintained their bullish stance on NTLA stock, giving a Buy rating today.
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Debanjana Chatterjee’s rating is based on several factors surrounding Intellia Therapeutics’ current situation and future potential. Despite the temporary pause in their Phase 3 trials due to a patient experiencing significant liver enzyme elevations, this was a voluntary decision by Intellia to prioritize patient safety, not a regulatory mandate. The incident, while concerning, is not seen as a widespread issue given that over 450 patients have been dosed with the drug, and such severe adverse effects have been rare.
Chatterjee acknowledges the high bar set for Intellia’s drug, nex-z, especially as an irreversible therapy, which necessitates demonstrating superior benefits over current standard-of-care treatments. Early data suggests potential best-in-disease outcomes, supporting the Buy rating. Moreover, the adverse event is believed to be related to the TTR gene target rather than the delivery platform, indicating no negative impact on other ongoing programs. This combination of factors underpins the confidence in Intellia’s long-term prospects despite current challenges.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $25.00 price target.