By Senad Karaahmetovic
Bernstein analysts initiated Intellia Therapeutics (NASDAQ:NTLA) at Outperform with a price target of $54 per share price target. The stock is also a Top Pick in the gene editing sector.
The analysts see “one of the most attractive market opportunities across our coverage” as the company “has a strong lead over the field with its in vivo gene editing platform, and its lead asset NTLA-2001 is directed at ATTR amyloidosis.”
“We believe the Alnylam ATTR clinical development program has significantly de-risked NTLA-2001, allowing investors to assign a much higher probability of success than would normally be appropriate for a Phase 1 asset,” they said in a note.
The analysts also see an attractive setup in NTLA stock as shares trade at 2-year lows.
“We see this as a good entry point for long-term investors, while acknowledging that major value creation events are likely a few years away,” they concluded.
Intellia shares are down 1.3% in pre-market Friday.