Intellia Therapeutics Analyst Doubles Price Target: What You Need To Know

An SVB Leerink genetic medicine analyst is bullish on shares of Intellia Therapeutics, Inc. (NASDAQ: NTLA). Here's why. 

The Intellia Analyst: SVB Leerink analyst Mani Foroohar, M.D. reiterated an Outperform rating on Intellia and increased his price target from $81 to $159.

The Intellia Takeaways: Intellia Therapeutics hosted a webcast Monday validating the life sciences company's approach to in vivo gene editing through its therapeutic NTLA-2001, Foroohar said in a note. 

The strength of the interim data from Phase 1 clinical trials and NTLA-2001's safety profile suggests NTLA-2001 will have a high chance at clinical success and positive efficacy, the analyst said.

SVB Leerin's updated financial model for the life sciences company factors in a 70% probability of success (up from 40%) for the use of NTLA-2001 in treating hATTR with polyneuropathy, and a 40% probability of success (up from 35%) for the alpha-1 antitrypsin therapy, ultimately leading to the $159 per share price target.

Click here to read more about the interim data from Phase 1 clinical results.

NTLA Price Action: Intellia shares were up 50.21% at $133.43 at the close Monday.