Brookline Capital Markets Reiterates Buy Rating on Intellia Therapeutics (NTLA)
Brookline Capital Markets analyst Leah RUsh Cann reiterated a Buy rating and $24.00 price target on Intellia Therapeutics (NASDAQ: NTLA).
The analyst comments "Redosing is not planned for the NTLA-2001 for the ATTR amyloidosis program, and only resulted in three patients in the phase I study, due to their having been dosed at a suboptimal level in the dose escalation of the study. However, these results indicate that redosing is an option and could be an important advantage of Intellia’s non-viral, LNP-based delivery platform. During November 2023, Intellia presented Part 2 phase I results for NTLA-2001, including the 24 patients in the ATTR-CM expansion cohort, and the 21 patients in the ATTR-PN expansion cohort. These results demonstrated that the fixed dose of 55 mg for the ATTR-CM patients, by month-6 had reduction equal to the 0,7 mg/kg results from Part 1 and surpassed those results by month-12. These results demonstrated that the fixed dose of either 55 mg or 80 mg for the ATTR-PN patients, by month-2 had ATTR reduction equal to or greater than the 1.0 mg/kg dose in Part 1. These results supported the phase III selected dose of 55 mg, currently being used in the global phase III MAGNITUDE study. We currently estimate Intellia Therapeutics and Regeneron could launch NTLA-2001, for Transthyretin Amyloidosis (ATTR) in 2027; and could achieve global market penetration of 20% by 2030. We estimate that global NTLA-2001 sales will increase to $10.9 billion by 2030, making it a 47.9% contributor to Intellia Therapeutics’ 2030 sales."
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Shares of Intellia Therapeutics closed at $24.00 yesterday.