Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives $63.64 Average Target Price from Brokerages

Intellia Therapeutics, Inc. (NASDAQ:NTLA) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $61.58.

A number of research firms have recently issued reports on NTLA. JPMorgan Chase & Co. reduced their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 24th. BMO Capital Markets increased their price target on Intellia Therapeutics from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Royal Bank of Canada reduced their price objective on Intellia Therapeutics from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $120.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 24th.

Intellia Therapeutics Stock Down 4.0 %

Shares of NASDAQ NTLA opened at $21.51 on Thursday. The stock’s 50 day moving average price is $24.17 and its two-hundred day moving average price is $25.21. Intellia Therapeutics has a 52-week low of $19.37 and a 52-week high of $39.07. The stock has a market capitalization of $2.08 billion, a P/E ratio of -4.01 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $19.68 million. The company’s quarterly revenue was down 48.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.40) earnings per share. On average, analysts anticipate that Intellia Therapeutics will post -4.98 EPS for the current year.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Intellia Therapeutics by 1,664.3% during the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after buying an additional 1,398 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after acquiring an additional 1,550 shares during the period. Signaturefd LLC raised its holdings in Intellia Therapeutics by 89.3% during the fourth quarter. Signaturefd LLC now owns 1,592 shares of the company’s stock worth $49,000 after purchasing an additional 751 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Intellia Therapeutics by 1,322.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,645 shares of the company’s stock valued at $59,000 after purchasing an additional 2,459 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.