Guggenheim cuts Intellia stock price target to $45, maintains buy

Monday, Guggenheim Securities adjusted their stance on Intellia Therapeutics (NASDAQ:NTLA), a company specializing in gene editing therapies. Analyst Debjit Chattopadhyay at Guggenheim lowered the price target to $45 from the previous $55, while still upholding a Buy rating on the company’s shares. According to InvestingPro data, the stock currently trades at $8.12, with analyst targets ranging from $8 to $106, suggesting significant potential upside despite recent challenges.

The adjustment comes amid a period where gene editing stocks have fallen out of favor with investors, as evidenced by Intellia’s shares dropping approximately 95% from their all-time highs, compared to a 43% decline in the XBI biotech index. InvestingPro data shows the stock has declined over 51% in the past six months alone, though the company maintains a strong financial position with more cash than debt on its balance sheet. The analyst noted that the market for ATTR-CM, a condition treatable by Intellia’s therapies, is potentially larger than current estimates suggest. It could reach nearly 500,000 patients in the United States, including up to 15% of HFpEF patients.

Chattopadhyay also highlighted the cost of goods sold (CoGS) for Intellia’s therapies, which is estimated at around $5,000 per patient. Additionally, competitive one-time net pricing is projected to be approximately $500,000. These figures suggest that Intellia’s -2001 therapy could become a blockbuster, even if it is only used as a second-line treatment.

The analyst expressed optimism about Intellia’s future, pointing out that trial enrollment is progressing ahead of schedule. With meaningful trial results expected between now and the first half of 2027, and considering the company’s current market capitalization is below one billion dollars, Guggenheim views this as an attractive entry point for investors.

In other recent news, Intellia Therapeutics reported first-quarter 2025 earnings that exceeded analysts’ expectations. The company achieved an earnings per share (EPS) of -$1.10, surpassing the forecasted -$1.27, and reported revenue of $16.63 million, which was higher than the anticipated $12.79 million. Intellia’s financial performance reflects its strategic advancements in clinical trials for hereditary angioedema (HAE) and ATTR amyloidosis. The company maintains a cash reserve of $707.1 million as of March 31, 2025, down from $861.7 million at the end of 2024, with a focus on managing costs effectively. Research and development expenses slightly decreased to $108.4 million, while general and administrative expenses dropped to $29.0 million. Intellia is also exploring non-dilutive financing options, such as collaborations and royalty transactions, to support its strategic initiatives. Analyst firms have noted the company’s progress, with Intellia continuing to advance its gene-editing therapies and positioning itself as a leader in the field.

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