William Blair analyst Myles Minter has maintained their bullish stance on NTLA stock, giving a Buy rating yesterday.
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Myles Minter has given his Buy rating due to a combination of factors that suggest a positive outlook for Intellia Therapeutics. Despite the recent safety concerns related to the MAGNITUDE trial, where a patient experienced grade 4 liver enzyme elevations, the events were asymptomatic and did not require hospitalization or medication. This indicates that the risk/benefit profile remains favorable, as the elevations are expected to resolve without intervention.
Furthermore, the company’s transparency in disclosing the incident and the ongoing progress in the MAGNITUDE trial, with nearly half of the target enrollment achieved, supports confidence in their clinical development. The management’s belief that the liver enzyme elevations are not indicative of lipid nanoparticle toxicity further reassures the potential for successful outcomes. These factors collectively underpin Minter’s optimistic stance on Intellia’s stock, leading to the Buy rating.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $39.00 price target.