H.C. Wainwright analyst Mitchell S. Kapoor reiterated a Buy rating and $25.00 price target on Intellia Therapeutics (NASDAQ: NTLA).

The analyst commented: "In April, Intellia announced that HAELO had met its primary endpoint with an 87% reduction vs. placebo (0.26 vs 2.1 [p<0.0001]) in monthly HAE attacks, in addition to one key secondary endpoint, with 62% of lonvo-z treated patients attack- and treatment-free for the 6-month efficacy evaluation period vs. only 11% of placebo treated patients (p<0.0001). On June 13, Intellia released additional information on key secondary endpoints in a presentation at the EAACI Annual Congress and simultaneously published in the New England Journal of Medicine (NEJM). Compared to placebo, patients in the lonvo-z arm had an 89% reduction in the monthly rate of attacks requiring on-demand treatment (0.19 vs. 1.79 in placebo) in addition to a 91% reduction in the monthly rate of moderate/severe attacks (0.11 vs. 1.23) during the efficacy evaluation period from weeks 5-28. Treated patients also saw a significantly greater improvement over baseline at week 28 in AE-QoL score (reduction of 23.51 vs. 6.47, placebo-controlled difference of 17.04 in favor of treatment). Supplemental analyses also found additional measures in favor of lonvo-z treatment: all treated patients experienced attack rate reductions during weeks 5-28 compared to baseline; attack rate reductions held across different subgroups; and plasma kallikrein levels decreased notably already at the time of first measurement after treatment (Day 15), reaching a plateau at Week 5 and remaining stably reduced through data cut-off. In the wake of this update, we reiterate our Buy rating and 12-month PT of $25."

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Shares of Intellia Therapeutics closed at $12.11 yesterday.