Intellia Therapeutics (NTLA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Salveen Richter from Goldman Sachs downgraded the rating on the stock to a Hold and gave it a $32.00 price target.
Salveen Richter has given his Hold rating due to a combination of factors that influence the potential growth and risks associated with Intellia Therapeutics. The primary concern lies in the competitive landscape and commercial dynamics that could impact Intellia’s ATTR program. While acknowledging the prior de-risking of the NTLA-2001 program and the company’s strong scientific approach, there are significant competitive threats from other companies with similar drug candidates. This includes potential market entries that could affect Intellia’s market share and pricing power.
Furthermore, while there is enthusiasm for Intellia’s pipeline, particularly the gene-edited therapies in development, the immediate catalysts for stock valuation increases appear limited. The timeline for significant events, such as potential regulatory approvals and the commencement of late-stage trials, stretches into the latter half of 2024 and beyond. Consequently, the expected slow pace of near-term developments contributes to the Hold rating, as it suggests a period of watchful waiting to assess the company’s progress and the evolving therapeutic landscape in which it operates.
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Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTLA in relation to earlier this year.
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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 reports Q4 EPS ($1.46), consensus ($1.45)
- NTLA Upcoming Earnings Report: What to Expect?
- Intellia Therapeutics price target lowered to $24 from $38 at Baird
- Intellia Therapeutics, ReCode Therapeutics to develop genomic medicines for CF
- Intellia Therapeutics and ReCode Therapeutics Announce Strategic Collaboration to Develop Novel Gene Editing Therapies for Cystic Fibrosis
