Intellia Therapeutics (NASDAQ:NTLA) Upgraded by JMP Securities to Market Outperform Rating

Key Points

• Intellia Therapeutics was upgraded to a "market outperform" rating by JMP Securities, with a target price of $33.00, indicating a potential upside of 65.33% from its previous close.
• The company reported a revenue increase of 104.3% year-over-year, with reported earnings of ($0.99) per share, surpassing the consensus estimate of ($1.03).
• Despite positive analyst ratings, other reports have varied, with some firms assigning lower target prices, showing a mix of sentiments in the market regarding Intellia's stock.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) was upgraded by analysts at JMP Securities from a "market perform" rating to a "market outperform" rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a $33.00 target price on the stock. JMP Securities' target price suggests a potential upside of 65.33% from the company's previous close.

NTLA has been the subject of several other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Intellia Therapeutics in a research report on Saturday, September 27th. Royal Bank Of Canada decreased their price target on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company restated an "overweight" rating and issued a $45.00 price target (down from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. Guggenheim reiterated a "buy" rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. Finally, Wedbush restated a "neutral" rating and issued a $7.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 16th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.68.

Intellia Therapeutics Stock Performance

NASDAQ NTLA opened at $19.96 on Monday. Intellia Therapeutics has a one year low of $5.90 and a one year high of $21.47. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -4.26 and a beta of 2.37. The company's 50-day simple moving average is $12.88 and its two-hundred day simple moving average is $10.33.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.04. The firm had revenue of $14.25 million during the quarter, compared to analysts' expectations of $12.26 million. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company's revenue was up 104.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.52) EPS. Equities analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Edward J. Dulac III sold 7,462 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president owned 106,062 shares in the company, valued at approximately $1,486,989.24. This trade represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the transaction, the chief accounting officer owned 55,266 shares of the company's stock, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,364 shares of company stock valued at $137,674. Corporate insiders own 3.10% of the company's stock.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in Intellia Therapeutics by 4.1% in the 4th quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock valued at $1,057,000 after buying an additional 3,596 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Intellia Therapeutics by 1,961.2% in the first quarter. GAMMA Investing LLC now owns 7,544 shares of the company's stock valued at $540,000 after acquiring an additional 7,178 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Intellia Therapeutics in the first quarter worth approximately $98,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Intellia Therapeutics by 51.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company's stock worth $140,000 after purchasing an additional 6,722 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Intellia Therapeutics by 30.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,798 shares of the company's stock valued at $112,000 after purchasing an additional 3,935 shares during 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.

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.