Crispr Therapeutics shares tumble after significant earnings miss
H.C. Wainwright has reiterated a Buy rating and $30.00 price target on Intellia Therapeutics (NASDAQ:NTLA), currently trading at $8.31, following the company’s presentation of positive three-year data for its hereditary angioedema (HAE) treatment at the European Academy of Allergy and Clinical Immunology meeting. According to InvestingPro data, analyst targets range from $7 to $106, with 14 analysts recently revising their earnings expectations upward for the upcoming period.
The Phase 1 trial data showed that a single dose of lonvoguran ziclumeran (lonvo-z, or NTLA-2002) led to a 98% mean reduction in monthly HAE attack rates across all 10 patients in the study. All patients remained attack-free and treatment-free for a median of 23 months through the latest follow-up.
The trial evaluated three one-time doses: 25 mg (three patients), 50 mg (four patients), and 75 mg (three patients). Results demonstrated dose-dependent effects, with the highest dose of 75 mg reducing plasma kallikrein by nearly 95%, and showing narrower variability compared to lower doses.
The treatment maintained its efficacy throughout the three-year period, with stability of effects observed across the duration of the study. The sustained durability aligns with the nature of gene editing, which is designed to produce permanent changes to the genome. InvestingPro analysis indicates the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.
The safety profile remained favorable through the three-year follow-up period, with all adverse events being transient and either Grade 1 or Grade 2, with no new safety risks identified during the extended observation period.
In other recent news, Intellia Therapeutics has made several noteworthy announcements that could impact investor perspectives. The company disclosed a serious adverse event in its Phase 3 MAGNITUDE study, leading to a decline in stock value. Despite this, Cantor Fitzgerald maintained an Overweight rating with a $65 price target, suggesting the market’s reaction may be an overreaction. H.C. Wainwright also reaffirmed a Buy rating with a $30 price target, noting the incident’s isolated nature and the potential benefits of the drug nex-z for treating ATTR-CM. Meanwhile, BofA Securities adjusted its price target to $39 from $43, maintaining a Buy rating but expressing caution over lingering safety concerns. Canaccord Genuity lowered its price target for Intellia to $54, citing revised launch timelines for the ATTR-CM program but kept a Buy rating. Bernstein SocGen Group reiterated an Outperform rating with a $45 target, despite a Grade 4 adverse event linked to a treatment. These developments highlight ongoing confidence in Intellia’s long-term potential, despite recent challenges in clinical trials.
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