BMO Initiates Coverage On This Gene Editing Spearhead

  • BMO Capital initiated coverage of Intellia Therapeutics Inc NTLA with a Market Perform rating and a $54 target price. 
  • The analyst says Intellia's gene-editing platform could potentially deliver transformative therapies. 
  • But challenges around the lack of clarity around an IND approval in the U.S., ongoing CRISPR/Cas9 IP litigations with Editas Medicine Inc EDIT, and high patient compliance remains.
  • Related: Intellia's CRISPR-Engineered Cell Therapy Receives FDA Orphan Drug Tag For Bone Marrow Cancer.
  • Although early data suggest that lead asset NTLA-2001 can have a competitive profile in ATTR, penetration will be challenged due to alternative approved/investigational treatments characterized by favorable outcomes and high patient adherence. 
  • BMO writes that IND approval for NTLA-2001 can drive ~10-15%+ upside in NTLA.
  • Price Action: NTLA shares are up 4.17% at $43.17 during the market session on the last check Friday.

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