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

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

NTLA has been the topic of several other research reports. Wedbush reiterated a “neutral” rating and issued a $29.00 price target on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. Wolfe Research began coverage on shares of Intellia Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. The Goldman Sachs Group cut shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $136.00 to $32.00 in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group upped their target price on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.62.

Intellia Therapeutics Price Performance

NASDAQ:NTLA traded down $0.34 during trading hours on Friday, reaching $24.52. The company’s stock had a trading volume of 714,284 shares, compared to its average volume of 1,467,859. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -4.51 and a beta of 1.85. Intellia Therapeutics has a one year low of $19.37 and a one year high of $47.48. The business’s 50-day moving average is $25.50 and its 200-day moving average is $27.20.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. The business had revenue of ($1.92) million during the quarter, compared to analyst estimates of $15.10 million. During the same quarter in the prior year, the business earned ($1.40) earnings per share. On average, sell-side analysts predict that Intellia Therapeutics will post -5.57 EPS for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other news, EVP James Basta sold 2,297 shares of the 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 completion of the sale, the executive vice president now owns 81,571 shares of the company’s stock, valued at $2,691,027.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in Intellia Therapeutics by 6.7% in the third quarter. Commonwealth Equity Services LLC now owns 30,415 shares of the company’s stock valued at $962,000 after acquiring an additional 1,910 shares during the last quarter. Raymond James & Associates lifted its stake in Intellia Therapeutics by 49.3% in the third quarter. Raymond James & Associates now owns 104,374 shares of the company’s stock valued at $3,300,000 after acquiring an additional 34,458 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Intellia Therapeutics by 21.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,970 shares of the company’s stock valued at $1,011,000 after acquiring an additional 5,574 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intellia Therapeutics by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,738 shares of the company’s stock valued at $719,000 after acquiring an additional 2,656 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Intellia Therapeutics by 8.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 286,743 shares of the company’s stock valued at $9,067,000 after acquiring an additional 22,633 shares during 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.