The day after Intellia Therapeutics (NASDAQ: NTLA) updated investors with its results for the fourth quarter on Feb. 23, Cannacord Genuity analyst Whitney Ijem issued a new price target for the stock, estimating that it'd climb by 119% to $73. But, per management's anticipated milestones for 2024, the pre-revenue biotech's most exciting catalysts will be when it reports preliminary data from a pair of its clinical trials later this year. Though it won't have an opportunity to seek regulatory approval for any of its programs for at least a couple of years, assuming that the late-stage clinical trial data look good.

In other words, realizing revenue from sales of its medicines is still far off, and far from guaranteed. So can Ijem's estimate become a reality?

This year, Intellia has two gene editing programs worth watching: NTLA-2001, and NTLA-2002. Both programs aim to use its technology to potentially permanently correct detrimental copies of patients' genes, thereby alleviating their symptoms on a (hopefully) permanent basis.

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Source Fool.com