BMO Capital upgraded Intellia Therapeutics to Outperform from Market Perform with a price target of $57, up from $54. The firm believes recent NTLA-2002 IND approval removed a significant overhang for Intellia, assuaging investor concerns triggered by Verve’s IND hold and the FDA’s restrictive guidance around gene editing therapies. BMO added, however, that since the IND approval, Intellia is trading 19% lower, suggesting that the IND approval is largely underestimated.
Published first on TheFly
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