Evercore Downgrades Intellia (NTLA) Despite Strong ATTR Trial Data

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is one of the best gene-editing stocks to buy according to hedge funds. On November 11, Evercore ISI downgraded Intellia Therapeutics (NASDAQ:NTLA) from Outperform to In Line and cut its price target to $8 from $17, citing uncertainty around the company’s ATTR program timeline. While acknowledging promising efficacy updates, the firm noted that clarity on development milestones remains lacking, narrowing the path to value.

The downgrade followed Intellia’s November 10 announcement of three‑year follow‑up data from its Phase 1 trial of nexiguran ziclumeran (nex‑z) in transthyretin (ATTR) amyloidosis with cardiomyopathy. Results showed an 87% mean serum TTR reduction at 36 months with no waning effect, alongside stabilization or improvement in key biomarkers and functional status. Mortality rates were also significantly lower compared to a matched cohort, underscoring the therapy’s potential impact.

CEO John Leonard highlighted the durability of benefit even in advanced heart failure patients, calling the results “remarkable.” Reported adverse events were limited to mild infusion reactions and transaminase elevations. Intellia is working to resolve an FDA clinical hold on its Phase 3 MAGNITUDE trials, which remain critical for advancing nex‑z. Evercore suggested the upcoming HAELO results next spring could provide a clearer opportunity to reassess the company’s outlook.

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a clinical‑stage gene editing company developing curative treatments through in vivo and engineered cell therapy programs. Its pipeline includes NTLA‑2001 for ATTR amyloidosis and NTLA‑2002 for hereditary angioedema, alongside collaborations with AvenCell, Kyverna, ONK Therapeutics, and ReCode to advance CAR‑T, NK cell, and genomic medicine platforms targeting cancer, autoimmune disorders, and cystic fibrosis.

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Disclosure: None. This article is originally published at Insider Monkey.