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Investing.com - Wells Fargo (NYSE:WFC) has lowered its price target on Intellia Therapeutics (NASDAQ:NTLA) to $45.00 from $50.00 while maintaining an Overweight rating on the stock. Currently trading at $11.46, the stock sits well below analyst targets ranging from $7 to $106, with InvestingPro data showing strong analyst consensus recommendations despite recent price volatility.
The firm updated its outlook following Intellia’s announcement regarding its development timeline for nex-z, its treatment for ATTR-PN. The company expects to complete enrollment in the MAGNITUDE-2 study in the first half of 2026, which would enable a Biologics License Application (BLA) filing in or before 2028. According to InvestingPro analysis, while the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 4.9x, it’s currently experiencing rapid cash burn - a critical factor for investors monitoring development timelines.
Intellia also plans to present longer-term data from its Phase 1 study at the 5th International ATTR Amyloidosis Meeting for Patients and Doctors on September 25-26, 2025, in Baveno, Italy. The company previously reported updated data showing durable serum TTR reductions through at least 24 months.
For its HAE treatment lonvo-z (NTLA-2002), Intellia has ended recruitment for the HAELO study just four months after initiation. The company remains on track to complete enrollment by the third quarter of 2025 and submit a BLA in the second half of 2026.
Wells Fargo noted that Intellia screened 41 patients in April for the 60-patient study, with many participants switching from leading therapies including lanadelumab, which the firm interprets as demonstrating high demand for lonvo-z. InvestingPro subscribers can access 8 additional key tips about Intellia’s financial health and market position, along with comprehensive research reports that provide deeper insights into the company’s development pipeline and market potential.
In other recent news, Intellia Therapeutics reported its Q2 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of -0.98, which was better than the forecasted -1.03. Additionally, Intellia’s revenue reached $14.24 million, exceeding the anticipated $11.99 million. These results reflect a positive earnings surprise for the company. Following the earnings report, Leerink Partners adjusted its price target for Intellia Therapeutics, lowering it slightly from $42.00 to $41.00. However, the firm maintained an Outperform rating on the stock. These developments highlight recent activities surrounding Intellia Therapeutics.
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