BMO Capital Markets Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price target dropped by equities research analysts at BMO Capital Markets from $70.00 to $50.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 390.20% from the stock’s current price.

NTLA has been the subject of a number of other reports. Chardan Capital upped their price objective on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Barclays lowered their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Robert W. Baird cut their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Wedbush restated a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a report on Monday, November 18th. Finally, Oppenheimer decreased their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock opened at $10.20 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83. The firm has a 50-day moving average of $13.77 and a two-hundred day moving average of $18.96. Intellia Therapeutics has a 1 year low of $9.93 and a 1 year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.38) EPS. Research analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in Intellia Therapeutics by 10.3% during the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock valued at $320,000 after acquiring an additional 1,538 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Intellia Therapeutics by 147.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock worth $1,101,000 after purchasing an additional 31,976 shares during the period. Virtu Financial LLC purchased a new position in shares of Intellia Therapeutics during the 3rd quarter valued at approximately $417,000. Geode Capital Management LLC lifted its stake in shares of Intellia Therapeutics by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after purchasing an additional 49,367 shares during the period. Finally, Barclays PLC boosted its holdings in Intellia Therapeutics by 17.7% during the third quarter. Barclays PLC now owns 292,795 shares of the company’s stock worth $6,017,000 after buying an additional 44,022 shares in the last quarter. Institutional investors and hedge funds 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.