Intellia Therapeutics' (NTLA) Market Outperform Rating Reaffirmed at Citizens Jmp

Key Points

• Citizens JMP reaffirmed its “market outperform” rating on Intellia Therapeutics and set a $30 price target, implying 138.85% upside from the prior close.
• Analyst sentiment is mixed: Intellia has a consensus “Hold” rating and an average price target of $21.15, with ratings ranging from strong buy to sell.
• Intellia reported quarterly EPS of -$0.80 in line with estimates, but revenue of $7.66 million missed expectations and fell 46.4% year over year; the stock opened at $12.56.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report)'s stock had its "market outperform" rating restated by equities researchers at Citizens Jmp in a research note issued on Tuesday,Benzinga reports. They currently have a $30.00 price target on the stock. Citizens Jmp's target price indicates a potential upside of 138.85% from the company's previous close.

NTLA has been the topic of a number of other research reports. The Goldman Sachs Group upped their price target on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Tuesday, April 28th. Wall Street Zen cut Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Robert W. Baird upped their price target on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Wolfe Research lowered shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 target price on the stock. in a research report on Wednesday, July 15th. Finally, Leerink Partners set a $35.00 price target on Intellia Therapeutics in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $21.15.

Intellia Therapeutics Stock Down 2.2%

NASDAQ NTLA opened at $12.56 on Tuesday. Intellia Therapeutics has a 12-month low of $7.95 and a 12-month high of $28.25. The firm's 50 day moving average is $13.42 and its 200-day moving average is $13.35. The company has a market capitalization of $1.76 billion, a PE ratio of -3.74 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. Intellia Therapeutics's revenue for the quarter was down 46.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.98) EPS. As a group, sell-side analysts expect that Intellia Therapeutics will post -3.21 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,641 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares in the company, valued at $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president directly owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Intellia Therapeutics in the third quarter valued at approximately $30,000. Advisory Services Network LLC bought a new position in shares of Intellia Therapeutics in the third quarter worth $33,000. Nykredit A S bought a new position in Intellia Therapeutics in the 2nd quarter worth about $33,000. Freestone Grove Partners LP bought a new position in shares of Intellia Therapeutics in the second quarter worth approximately $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Intellia Therapeutics in the 2nd quarter worth $26,000. Institutional investors own 88.77% of the company's stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc NASDAQ: NTLA is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company's research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia's lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.

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