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On Thursday, H.C. Wainwright reaffirmed its Buy rating and $30.00 price target for Intellia Therapeutics (NASDAQ:NTLA) shares following a safety update on the company’s Phase 3 study. Currently trading at $9.66, the stock has seen significant volatility, with analyst targets ranging from $8 to $106. According to InvestingPro data, 13 analysts have recently revised their earnings expectations upward for the upcoming period. The update detailed a single patient’s experience with elevated liver enzymes during the MAGNITUDE study of the drug nex-z for the treatment of ATTR-CM, a condition affecting the heart.
According to the report filed by Intellia, the patient in question experienced Grade 4 liver transaminase elevations, which have since shown signs of resolution without the need for hospitalization or medical intervention. The severity of the liver enzyme elevations has decreased to Grade 3 for ALT and Grade 2 for AST.
The MAGNITUDE study has involved over 200 patients, and the firm believes this incident to be an isolated occurrence. The analysts at H.C. Wainwright suggest that such transient liver enzyme elevations are likely to be seen as acceptable when weighed against the potential benefits of nex-z in treating ATTR-CM. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.9 and holds more cash than debt on its balance sheet, providing financial flexibility to advance its clinical programs.
The investment firm’s optimism remains unaffected by this single event, and they have reiterated their positive outlook for Intellia’s stock. The analysts expect that both patients and clinicians will be willing to accept temporary liver enzyme increases given the context of the condition being treated.
H.C. Wainwright’s stance is based on the anticipation that the risk-benefit profile of nex-z will be viewed favorably for use in ATTR-CM, a disease where treatment options are critically needed. The reiteration of the Buy rating and the 12-month price target of $30 per share reflects the firm’s confidence in the drug’s ongoing clinical trials and its potential market impact. Based on InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels. Discover more insights about Intellia’s financial health, along with 8 additional ProTips and comprehensive valuation metrics, in the exclusive Pro Research Report, part of the premium suite covering 1,400+ US stocks.
In other recent news, Intellia Therapeutics reported better-than-expected earnings results for the first quarter of 2025. The company achieved an earnings per share (EPS) of -$1.10, surpassing the forecasted -$1.27, and its revenue reached $16.63 million, exceeding the expected $12.79 million. Meanwhile, Intellia is making progress in its Phase 3 clinical trials, with enrollment for the HAELO study of NTLA-2002 on track and expected to be completed by the third quarter of 2025. The company aims to submit a biologics license application (BLA) in 2026, potentially leading to a commercial launch in 2027.
In other developments, Intellia’s MAGNITUDE-2 study for nex-z, targeting transthyretin amyloidosis with polyneuropathy, is proceeding as planned, with completion expected to support a BLA submission by 2028. Recently, BofA Securities adjusted the price target for Intellia, lowering it to $39 but maintaining a Buy rating, following a reported adverse event in a clinical trial. Similarly, Guggenheim Securities reduced their price target to $45 while also maintaining a Buy rating.
Citizens JMP reiterated a Market Perform rating for Intellia, noting mitigating factors after an adverse event disclosure. The company’s recent SEC filing emphasized its commitment to transparency and regulatory compliance as it advances its clinical programs. Intellia continues to focus on developing innovative treatments for genetic diseases, which remains a significant aspect of its growth strategy.
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