Wedbush has reiterated a "Neutral" rating and a $12 price target for Intellia Therapeutics (NASDAQ: NTLA), citing potential impacts on the commercial window for its Transthyretin Amyloidosis with Cardiomyopathy (ATTR-CM) gene therapy despite recent advancements in its clinical trials. The analyst's stance comes as patient screening has resumed in both MAGNITUDE and MAGNITUDE-2 trials for nexiguran ziclumeran (nex-z), following earlier clinical holds.
Intellia's Phase 3 MAGNITUDE trial for ATTR-CM and MAGNITUDE-2 for hereditary ATTR with polyneuropathy (ATTRv-PN) faced clinical holds from the U.S. Food and Drug Administration (FDA) in October 2025. These holds were imposed after a patient in the MAGNITUDE trial experienced Grade 4 liver transaminases and increased total bilirubin. Although a patient later died, Intellia CEO John Leonard clarified that the death was due to infection and not related to the liver event.
The FDA lifted the clinical hold on MAGNITUDE-2 in January 2026 and subsequently on MAGNITUDE in March 2026, after Intellia aligned with the agency on enhanced safety monitoring and revised exclusion criteria for patients. "We are very pleased to have aligned with the FDA on the path forward for our MAGNITUDE clinical trial," Dr. Leonard stated in a press release. The company's stock saw a 12% rise following the lifting of the MAGNITUDE hold.
Despite the resumption of trials, the tweet from "dough" highlighted concerns: > "$NTLA wedbush PT $12 Although patient screening is now resumed in both trials, expect the impact on trial timelines will erode a commercial window of opportunity in ATTR-CM." This sentiment suggests that the delays, even resolved, could still affect the market entry timeline for nex-z. Wedbush's $12 price target is notably lower than the broader analyst consensus, which averages around $25.26, with some targets reaching up to $65.
Intellia Therapeutics is developing nex-z, a CRISPR/Cas9-based gene editing therapy, in partnership with Regeneron Pharmaceuticals, Inc., aiming for a one-time treatment for ATTR amyloidosis. The company's financial performance has shown improvement, with a narrower quarterly net loss and higher-than-anticipated revenues in its recent earnings report, yet profitability remains a concern for some analysts. The ongoing clinical progress and the competitive landscape for ATTR-CM treatments will be critical factors in Intellia's future valuation and market position.
