Wells Fargo downgraded Intellia Therapeutics (NTLA) to Equal Weight from Overweight with a price target of $17, down from $45. Given the occurrence of the Hy’s law case, similarity with the prior Gr4 casee in terms of timing of onset, and uncertainty around etiology, the firm is moving to the sidelines and lowering its rating as it awaits clarity from the company’s investigation, the analyst tells investors in a research note. The firm noted that a liver safety event led to a pause of ATTR-CM studies.
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