Intellia’s three-year HAE treatment data shows durability, Citizens JMP says

Citizens JMP maintained its Market Perform rating on Intellia Therapeutics (NASDAQ:NTLA) stock, currently trading at $8.96, following positive three-year follow-up data from the company’s Phase I trial of NTLA-2002, now named Lonvoguran ziclumeran (Lonvo-z), in patients with hereditary angioedema (HAE). According to InvestingPro data, the stock has seen significant volatility, trading between $5.90 and $28.18 over the past 52 weeks.

The data was presented at the European Academy of Allergy and Clinical Immunology (EAACI) conference, highlighting the treatment’s durability in HAE patients.

Citizens JMP noted that the results "underline durability and shows the value proposition to patients that can potentially live disease free."

The firm’s analyst Silvan Tuerkcan maintained the Market Perform rating based on a discounted cash flow analysis of the company.

Citizens JMP stated it believes Intellia Therapeutics shares are "fairly valued" at current levels, despite the positive long-term data from the HAE treatment study.

In other recent news, Intellia Therapeutics presented positive three-year data for its hereditary angioedema (HAE) treatment, showing a 98% reduction in attack rates, with patients remaining attack-free for a median of 23 months. The safety profile of the treatment was favorable, with only transient adverse events reported. Following this, H.C. Wainwright maintained its Buy rating and a $30 price target for Intellia, emphasizing the stability and durability of the treatment’s effects. Meanwhile, Canaccord Genuity adjusted its price target for Intellia to $54 from $74, citing revised launch timelines for the ATTR-CM program. Despite the delay, the firm remains optimistic, projecting peak sales at $4 billion by 2035.

Bernstein SocGen Group reiterated an Outperform rating with a $45 price target despite a Grade 4 adverse event reported in Intellia’s trials. The event’s timing suggests it may not be drug-related, but further evidence is needed. Cantor Fitzgerald maintained an Overweight rating and a $65 price target after Intellia disclosed an asymptomatic Grade 4 liver enzyme elevation in a patient during the Phase 3 MAGNITUDE study. The firm described the market’s negative reaction as an overreaction, expressing confidence in Intellia’s long-term prospects. H.C. Wainwright also reaffirmed its $30 target, noting the liver enzyme issue in the MAGNITUDE study was resolving and likely an isolated incident.

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