UPDATE: Stifel Starts Intellia Therapeutics (NTLA) at Buy
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(Updated - September 23, 2021 4:13 PM EDT)
Stifel analyst Dae Gon Ha initiates coverage on Intellia Therapeutics (NASDAQ: NTLA) with a Buy rating and a price target of $173.00.
The analyst commented, "At $10B+ market cap with a Ph.1/2 asset (NTLA-2001), we are cognizant of investors' pushback on valuation. We also recognize the commercial challenges for both in vivo programs that, competitively speaking, need to be considered. However, as positive data continue to accrue, we still think some upside can be driven on '2001/'2002, while, more importantly, we see lead assets as sentinel programs towards broader in vivo editing. Additionally, we think lipid nanoparticle (LNP) delivery differentiates NTLA as the approach 1) affords flexibility in cargo size, and 2) potentiates combo editing (i.e., insertion) beyond the initial deletion programs. Understandably, stock performance near term may be '2001/'2002-related, but additional pillars of growth may be possible over the long term as nascent technologies (e.g., Cas9-deaminase) come to fruition with relevant comps in ~$B market cap range."
Shares of Intellia Therapeutics closed at $149.05 yesterday.
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