Intellia Therapeutics (NTLA) PT Lowered to $29 at Citizens on Nex-Z (ATTR) Risk

Citizens analyst Silvan Tuerkcan lowered the price target on Intellia Therapeutics (NASDAQ: NTLA) to $29.00 (from $33.00) while maintaining a Market Outperform rating.

The analyst commened, "Intellia shares are down 43% (vs. +3% XBI) in response to the hospitalization of an 80-yearold patient due to liver injury (Hy's law) on Friday. Liver injury worries hurt nex-z and the entire editing field. Many factors are unknown at this point, but key points are 1) this is a voluntary (company triggered) hold on only the nex-z trials — not by regulators; 2) the patient is recovering; and 3) this is the second Gr4 case (albeit the first hospitalization) in Ph3 and overall the third Gr 4 event. As the company seeks to understand the mechanism and potential mitigation strategies, we await updates during the 3Q earnings call and AHA. We lower our price target to $29 from $33 based on increased risk around nex-z (ATTR). We model $21 for lonvo-z (HAE) alone and see upside from the current price, once details regarding the patient's status become available."

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