BMO Capital Markets Raises Intellia Therapeutics (NASDAQ:NTLA) Price Target to $70.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lifted by analysts at BMO Capital Markets from $62.00 to $70.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 185.48% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group upped their target price on Intellia Therapeutics from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wolfe Research initiated coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They issued a “peer perform” rating for the company. The Goldman Sachs Group downgraded Intellia Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $136.00 to $32.00 in a research report on Friday, February 23rd. Finally, Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.62.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA traded down $0.34 during midday trading on Friday, hitting $24.52. 714,284 shares of the company’s stock were exchanged, compared to its average volume of 1,467,859. The stock’s 50 day moving average price is $25.50 and its 200-day moving average price is $27.20. The firm has a market cap of $2.36 billion, a P/E ratio of -4.51 and a beta of 1.85. Intellia Therapeutics has a twelve month low of $19.37 and a twelve month high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.47) by $0.01. The business had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. During the same period in the previous year, the firm posted ($1.40) earnings per share. On average, analysts expect that Intellia Therapeutics will post -5.57 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the sale, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in Intellia Therapeutics by 6.7% during the third quarter. Commonwealth Equity Services LLC now owns 30,415 shares of the company’s stock worth $962,000 after buying an additional 1,910 shares during the last quarter. Raymond James & Associates increased its position in Intellia Therapeutics by 49.3% during the third quarter. Raymond James & Associates now owns 104,374 shares of the company’s stock worth $3,300,000 after buying an additional 34,458 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Intellia Therapeutics by 21.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,970 shares of the company’s stock worth $1,011,000 after buying an additional 5,574 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Intellia Therapeutics by 13.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,738 shares of the company’s stock worth $719,000 after buying an additional 2,656 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Intellia Therapeutics by 8.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 286,743 shares of the company’s stock worth $9,067,000 after buying an additional 22,633 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.