Guggenheim Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $45.00

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price target reduced by stock analysts at Guggenheim from $55.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target suggests a potential upside of 416.11% from the stock's current price.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright assumed coverage on shares of Intellia Therapeutics in a research report on Wednesday, March 5th. They set a "buy" rating and a $30.00 price target for the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $13.00 price target (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Citigroup lowered their price target on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday. Oppenheimer lowered their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Finally, Morgan Stanley cut shares of Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $56.00 to $11.00 in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.90.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock traded up $0.60 during midday trading on Monday, reaching $8.72. 470,406 shares of the stock were exchanged, compared to its average volume of 3,374,604. The company's fifty day moving average is $8.13 and its 200-day moving average is $10.97. The firm has a market cap of $903.14 million, a PE ratio of -1.60 and a beta of 2.33. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $28.18.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.16. The company had revenue of $16.63 million during the quarter, compared to the consensus estimate of $11.39 million. During the same period in the previous year, the company earned ($1.12) EPS. Intellia Therapeutics's quarterly revenue was down 42.6% on a year-over-year basis. On average, sell-side analysts anticipate that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors have recently bought and sold shares of NTLA. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Intellia Therapeutics by 125.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company's stock worth $1,411,000 after acquiring an additional 67,276 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $421,000. Barclays PLC lifted its holdings in shares of Intellia Therapeutics by 17.7% in the 3rd quarter. Barclays PLC now owns 292,795 shares of the company's stock worth $6,017,000 after acquiring an additional 44,022 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 2.3% in the 4th quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company's stock worth $146,174,000 after acquiring an additional 280,946 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Intellia Therapeutics by 85.7% in the 4th quarter. SG Americas Securities LLC now owns 44,838 shares of the company's stock worth $523,000 after acquiring an additional 20,694 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.