- BMO Capital initiated coverage of Intellia Therapeutics Inc (NASDAQ:NTLA) with a Market Perform rating and a $54 target price.
- The analyst says Intellia's gene-editing platform could potentially deliver transformative therapies.
- But challenges around the lack of clarity around an IND approval in the U.S., ongoing CRISPR/Cas9 IP litigations with Editas Medicine Inc (NASDAQ:EDIT), and high patient compliance remains.
- Related: Intellia's CRISPR-Engineered Cell Therapy Receives FDA Orphan Drug Tag For Bone Marrow Cancer.
- Although early data suggest that lead asset NTLA-2001 can have a competitive profile in ATTR, penetration will be challenged due to alternative approved/investigational treatments characterized by favorable outcomes and high patient adherence.
- BMO writes that IND approval for NTLA-2001 can drive ~10-15%+ upside in NTLA.
- Price Action: NTLA shares are up 4.17% at $43.17 during the market session on the last check Friday.
