Wall Street Thinks This High-Flying Biotech Stock Can Soar Another 57%
It might pull it off, provided several things fall right in place.
Overview
Intellia Therapeutics (NASDAQ: NTLA) has been on fire this year. Shares of the clinical-stage biotech have climbed an impressive 83% to date. However, Wall Street remains bullish on the company. Intellia Therapeutics' average price target (according to Yahoo! Finance) is $26.63, implying the stock could jump another 57% from its current levels over the next year. Should investors rush to purchase Intellia Therapeutics' shares based on The Street's bullish sentiments?
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Intellia Therapeutics has performed well largely thanks to strong clinical progress with its leading candidate, lonvo-z, an investigational gene editing medicine for hereditary angioedema (HAE), a rare condition that causes painful and dangerous swelling attacks across the body. Though there are standards of care for this disease that help manage swelling attacks, there is no cure. Intellia Therapeutics hopes it has developed the closest thing to a cure with lonvo-z. In a phase 3 clinical trial, patients treated with a single infusion of lonvo-z experienced an 87% reduction in attacks after a six-month evaluation period compared with those who received a placebo. Further, 62% of patients were completely attack-free, compared with just 11% in the placebo group.
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Originally published at www.fool.com.