Citizens JMP lowered the firm’s price target on Intellia Therapeutics (NTLA) to $29 from $33 and keeps an Outperform rating on the shares. Intellia shares are down 43% in response to the hospitalization of an 80-year-old patient due to liver injury on Friday, and while many factors are unknown at this point, this is a voluntary, company-triggered hold on only the nex-z trials, not by regulators, and the patient is recovering, the analyst tells investors in a research note. The firm is modeling $21 for lonvo-z alone and sees upside from the current price once details regarding the patient’s status become available.
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