Why Intellia Therapeutics Stock Is Soaring Today

Intellia Therapeutics Inc NTLA is trading significantly higher Monday morning after the company announced positive clinical data for its CRISPR therapy.

What Happened: Intellia and Regeneron Pharmaceuticals Inc REGN reported positive interim data from an ongoing Phase 1 clinical study of the in vivo genome editing candidate NTLA-2001. NTLA-2001 is being developed as a single-dose treatment for transthyretin amyloidosis. 

“These are the first ever clinical data suggesting that we can precisely edit target cells within the body to treat genetic disease with a single intravenous infusion of CRISPR. The interim results support our belief that NTLA-2001 has the potential to halt and reverse the devastating complications of ATTR amyloidosis with a single dose,” John Leonard, president and CEO of Intellia, said in a statement. 

Intellia Analysts React: Multiple analyst firms raised price targets following the announcement:

• Chardan Capital analyst Geulah Livshits maintained Intellia Therapeutics with a Buy rating and raised the price target from $85 to $130.
• HC Wainwright & Co. analyst Michael King maintained Intellia Therapeutics with a Buy rating and raised the price target from $111 to $171.
• Roth Capital analyst Tony Butler maintained Intellia Therapeutics with a Buy rating and raised the price target from $80 to $110.
• Truist Securities analyst Joon Lee maintained Intellia Therapeutics with a Buy rating and raised the price target from $80 to $160.
• Goldman Sachs analyst Salveen Richter maintained Intellia Therapeutics with a Buy rating and raised the price target from $115 to $163.
• Barclays analyst Gena Wang maintained Intellia Therapeutics with an Overweight rating and raised the price target from $88 to $134.

See Also: 24 Stocks Moving in Monday's Pre-Market Session

NTLA Price Action: Intellia is making a new 52-week high in premarket trading today.

At last check Monday, the stock was up 52.46% at $135.43.

Photo courtesy of Intellia.