Intellia Therapeutics (NTLA): New Data Implies Clinical Benefit - Wedbush
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Wedbush analyst, David Nierengarten, reiterated his Outperform rating on shares of Intellia Therapeutics (NASDAQ: NTLA) after additional data presented on its TTR program which the analyst thinks should correlate to clinical benefit.
On Thursday NTLA presented data showing they were able to achieve up to 60% editing of transthyretin (TTR) gene in the livers of mice following IV administration, which resulted in up to 80% decrease in TTR serum protein levels; this high editing rate was shown to be consistent across individual mice in a study and across liver lobes.
NTLA had previously presented data showing high levels of dose-dependent TTR editing in the liver cells of mice, and he expects to see further improvements in editing efficiency with continued guide RNA optimization. Although early, these results are meaningful and compare favorably with TTR serum reduction achieved by RNAi programs in development, which he notes are associated with only a transient benefit.
No change to the price target of $38.
Shares of Intellia Therapeutics closed at $22.30 yesterday.
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