Intellia Therapeutics price target lowered to $60 from $70 at Wells Fargo

Wells Fargo lowered the firm’s price target on Intellia Therapeutics (NTLA) to $60 from $70 and keeps an Overweight rating on the shares. The discontinuation of the Alpha-1 Antitrypsin Deficiency program “makes sense” given the changing landscape, the analyst tells investors. Wells continues to think ATTR amyloidosis with cardiomyopathy is the main value driver and sees quick enrollment in the Phase 3 trial as a promising sign of patient acceptance of gene editing.