Intellia Therapeutics Price Target Lowered by Wells Fargo

Wells Fargo has adjusted its price target for Intellia Therapeutics (NTLA), lowering it to $70 from the previous $80, yet continues to recommend an Overweight rating on the shares. This adjustment comes in light of the Phase 1 ATTR-CM data for nex-z, which, according to the firm, compares favorably against historical data from silencers and stabilizers. Notably, this comparison holds despite a greater proportion of patients in the study having more severe disease. Wells Fargo believes that these findings are indicative of potential success in the upcoming Phase 3 trials.