Wells Fargo Lowers Intellia Therapeutics Price Target to $60

Wells Fargo has adjusted its outlook on Intellia Therapeutics (NTLA), lowering the firm’s price target to $60 from $70 while keeping an Overweight rating on the shares. This decision comes in the wake of Intellia Therapeutics discontinuing its Alpha-1 Antitrypsin Deficiency program, a move that Wells Fargo analysts believe is justified given the evolving landscape of gene therapy. The firm emphasizes that ATTR amyloidosis with cardiomyopathy remains the main value driver for Intellia, pointing to the rapid enrollment in the Phase 3 trial as a positive indicator of patient acceptance towards gene editing technologies.