In a report released yesterday, Whitney Ijem from Canaccord Genuity maintained a Buy rating on Intellia Therapeutics (NTLA – Research Report), with a price target of $72.00.
Whitney Ijem has given a Buy rating to Intellia Therapeutics for a multitude of reasons, particularly due to the company’s strategic partnership with ReCode Therapeutics. This collaboration aims at developing CRISPR-based therapies for cystic fibrosis (CF), especially targeting a subset of patients who do not benefit from existing treatments. Ijem views this alliance as a positive step for Intellia, as it supplements their pipeline with a potential program in an area where they previously lacked delivery expertise. The collaboration leverages Intellia’s CRISPR knowledge with ReCode’s proprietary lipid nanoparticle delivery technology, which bodes well for the company’s future endeavors in gene editing.
Furthermore, the deal structure, where ReCode takes on development and commercial responsibilities, while Intellia stands to receive milestone payments and royalties, presents a favorable risk-reward scenario for Intellia. The absence of upfront payments in the deal terms also suggests a level of confidence in the potential success of the collaboration. Additionally, the option for Intellia to take the helm in US commercialization for certain programs provides a strategic advantage and further upside potential. The partnership’s focus on unaddressed CF patient needs could lead to significant advancements in treatment, underpinning Ijem’s optimistic outlook on Intellia Therapeutics’ stock.
Ijem covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Alnylam Pharma, and Regulus. According to TipRanks, Ijem has an average return of 24.1% and a 60.00% success rate on recommended stocks.
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Intellia Therapeutics (NTLA) Company Description:
Intellia Therapeutics, Inc. engages in the development of gene editing-based therapies. It provides scientific expertise, clinical development, and intellectual property position to unlock broad therapeutic applications of CRISPR or Cas9 genome editing and develop a potential new drug class. The company was founded by Andrew May, Luciano Marraffini, Rodolphe Barrangou, Nessan Bermingham, Rachel Haurwitz, Erik Sontheimer, Jennifer Doudna, and Derrick Rossi in May 2014 and is headquartered in Cambridge, MA.
Read More on NTLA:
- Intellia Therapeutics and ReCode Therapeutics Announce Strategic Collaboration to Develop Novel Gene Editing Therapies for Cystic Fibrosis
- Intellia Therapeutics initiated with a Peer Perform at Wolfe Research
- Intellia Therapeutics to Hold Conference Call to Discuss Fourth Quarter and Full-Year 2023 Earnings and Company Updates
- Cathie Wood’s ARK Investment bought 131K shares of Intellia Therapeutics today
- Intellia Therapeutics Reveals Positive Phase 1 Results
