Intellia Therapeutics cut to neutral at Baird; price target unchanged

 

• Citing the recent share performance, Baird has downgraded Intellia Therapeutics (NASDAQ:NTLA) to neutral from outperform. However, the analysts remain ‘long-term bullish’ on the stock keeping the price target unchanged at $60.
• Thesis centers around Intellia’s experimental CRISPR therapy, NTLA-2001, currently under development to treat ATTR (Transthyretin Amyloidosis).
• Citing the recently-initiated Phase 1 study for the indication, the analysts highlight the potential for NTLA-2001 in hereditary ATTR with polyneuropathy. Yet, they are less than optimistic for the experimental therapy in hATTR with cardiomyopathy and wild-type ATTR due to the lack of clinical trial results as proof. 
• https://seekingalpha.com/news/3647086-intellia-therapeutics-cut-to-neutral-baird-price-target-unchanged