Analysts Set Intellia Therapeutics, Inc. (NASDAQ:NTLA) PT at $61.77

Intellia Therapeutics, Inc. (NASDAQ:NTLA) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $61.77.

NTLA has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Truist Financial reiterated a “buy” rating and set a $120.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $73.00 target price on shares of Intellia Therapeutics in a research report on Thursday, June 27th.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $21.00 on Friday. Intellia Therapeutics has a 1 year low of $19.21 and a 1 year high of $34.87. The company has a 50 day simple moving average of $22.73 and a two-hundred day simple moving average of $23.83. The firm has a market cap of $2.03 billion, a P/E ratio of -3.92 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. During the same quarter in the prior year, the firm posted ($1.40) EPS. The firm’s quarterly revenue was down 48.5% on a year-over-year basis. On average, sell-side analysts anticipate that Intellia Therapeutics will post -5.22 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in Intellia Therapeutics in the 2nd quarter worth about $449,000. Algert Global LLC raised its stake in shares of Intellia Therapeutics by 307.0% during the second quarter. Algert Global LLC now owns 68,372 shares of the company’s stock valued at $1,530,000 after acquiring an additional 51,572 shares in the last quarter. Scientech Research LLC raised its stake in shares of Intellia Therapeutics by 133.0% during the second quarter. Scientech Research LLC now owns 47,101 shares of the company’s stock valued at $1,054,000 after acquiring an additional 26,884 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after purchasing an additional 1,550 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in Intellia Therapeutics by 23.5% in the second quarter. Ensign Peak Advisors Inc now owns 36,019 shares of the company’s stock worth $806,000 after purchasing an additional 6,850 shares in the last quarter. Institutional investors 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.