Citi analyst David Lebowitz maintained a Hold rating on Intellia Therapeutics (NTLA – Research Report) yesterday and set a price target of $10.00.
David Lebowitz has given his Hold rating due to a combination of factors affecting Intellia Therapeutics. The company is currently focused on executing pivotal clinical trials for its NTLA-2002 and nex-z therapies, which are progressing as planned. However, despite the positive trial enrollments, there are regulatory challenges in the gene therapy space that could impact the approval process, leading to a cautious outlook.
Additionally, Intellia’s financial position, with a cash reserve expected to fund operations into the first half of 2027, is stable but influenced by a recent decrease in collaboration revenue and a corporate restructuring. The company’s strategic focus on near-term clinical-stage assets and the reduction in pipeline projects also contribute to the Hold rating, as these factors suggest a period of consolidation rather than aggressive growth. The updated price target reflects these considerations, indicating a neutral stance with a high-risk assessment.