Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
On Tuesday, Canaccord Genuity analysts adjusted their outlook for Intellia Therapeutics (NASDAQ: NASDAQ:NTLA), lowering the stock’s price target to $54 from a previous $74, while maintaining a Buy rating. The adjustment reflects revised launch timelines for Intellia’s ATTR-CM program. The stock has experienced significant pressure recently, declining over 23% in the past week, according to InvestingPro data.
According to the analysts, the updates shared last week did not significantly impact their perspective. However, the firm decided to revise its expectations for the ATTR-CM launch in the U.S. and EU, now projecting it for 2030/2031, compared to the earlier estimate of 2028/2029. Despite recent challenges, InvestingPro data shows the company maintains a strong liquidity position, with cash reserves exceeding debt obligations.
Despite the delay in launch timelines, Canaccord Genuity continues to model peak sales for the ATTR-CM program at approximately $4 billion, albeit now anticipated in 2035 instead of the previous estimate of 2032/2033. The analysts also noted that they are maintaining a probability of success at 80%, which they described as conservative.
The revised price target is the result of these updated projections, with the year-end 2025 price target now set at $54. The analysts emphasized that they are keeping their Buy rating for Intellia stock, indicating continued confidence in the company’s long-term potential.
Intellia Therapeutics, a biotechnology firm focused on developing CRISPR-based therapies, continues to advance its pipeline despite the adjusted timelines. The broader analyst community maintains a bullish stance, with a consensus recommendation of 1.66 (Strong Buy) and price targets ranging from $7 to $106. For deeper insights into Intellia’s financial health and growth prospects, including 12 additional ProTips and comprehensive analysis, check out the full research report on InvestingPro.
In other recent news, Intellia Therapeutics reported a Grade 4 adverse event during its Phase 3 MAGNITUDE study, causing concern among investors. Despite this, Bernstein SocGen Group maintained an Outperform rating with a $45 price target, while Cantor Fitzgerald upheld an Overweight rating with a $65 target, suggesting the market’s response may be an overreaction. H.C. Wainwright also reaffirmed a Buy rating and a $30 target, emphasizing that the liver enzyme elevations experienced by a patient are resolving without medical intervention. BofA Securities adjusted its price target for Intellia to $39 from $43 but maintained a Buy rating, noting that safety concerns could persist until more data is available. Citizens JMP reiterated a Market Perform rating, highlighting that the adverse event did not meet severe liver injury criteria and that the patient’s condition is improving. These developments underscore the inherent risks and potential rewards associated with Intellia’s ongoing clinical trials, particularly for its nex-z treatment aimed at ATTR-CM. The firm’s efforts to address transthyretin cardiomyopathy remain a focal point for investors and analysts. As Intellia continues its trials, stakeholders will closely monitor the company’s progress and any additional safety data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.