5 Most Promising Biotech Stocks to Buy According to Analysts

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1. Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Upside Potential as of December 13: 169.98%

Number of Hedge Fund Holders: 27

Cambridge, Massachusetts-based Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a leading clinical-stage genome editing company, developing novel, potentially curative therapeutics leveraging CRISPR-based technologies.

On October 18, Intellia Therapeutics, Inc. (NASDAQ:NTLA) announced that the U.S. FDA has cleared the company’s Investigational New Drug application for NTLA-2001 for the treatment of transthyretin (ATTR) amyloidosis with cardiomyopathy. The company is actively preparing for a global pivotal Phase 3 study of NTLA-2001.

On November 13, Morgan Stanley analyst Terence Flynn lowered the price target on Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares to $85 from $90 and maintained an ‘Overweight’ rating for the shares. The price target represents an upside potential of 201.95% based on the share price on December 13.

Intellia Therapeutics, Inc. (NASDAQ:NTLA) ranks #1 on our list of 11 most promising biotech stocks to buy according to analysts based on the highest upside potential on its share price according to the average analyst price targets. The shares of the company were also widely owned by hedge funds, as of Q3 2023, with 27 prominent hedge funds tracked by Insider Monkey holding its shares valued at $647 million.

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