Leerink Partners Upgrades Intellia Therapeutics (NTLA) to Outperform

August 5, 2016 6:51 AM EDT
Get Alerts NTLA Hot Sheet
Price: $12.83 -0.54%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 48 | New: 20
Trade NTLA Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

Leerink Partners upgraded Intellia Therapeutics (NASDAQ: NTLA) from Market Perform to Outperform with a price target of $32.00 on valuation.

Analyst Michael Schmidt commented, "We believe the current valuation, close to the mid-point of the in IPO range of $16-$18, represents an attractive entry point to own one of the most exciting technology platforms Biotech has to offer. NTLA is a leader in the development of CRISPR/Cas9-based genome editing therapeutics. NTLA's platform has, in our view, disruptive potential that could significantly expand the potential of existing genome therapeutics. We have a positive view of NTLA's risk-diversified pipeline strategy and partnerships with NVS (MP) and REGN (OP) that serve as strong validation for the platform and IP position. That said, clinical proof-of-concept for CRISPR/Cas9 technology is still outstanding and we don't expect NTLA's first product to move into the clinic until 2018. We're positive on the huge potential of the technology, NTLA's management and strategy long term, with the caveat that the technology is still in early development stages. NTLA ended 2Q16 with $301M in cash and equivalents. We are updating estimates to reflect 2Q16 financial results. Our PT is $32/share."

For an analyst ratings summary and ratings history on Intellia Therapeutics click here. For more ratings news on Intellia Therapeutics click here.

Shares of Intellia Therapeutics closed at $17.66 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Hot Upgrades, Upgrades

Related Entities

Earnings, IPO

Add Your Comment