Intellia Therapeutics (NTLA) Upgraded to “Buy” at BidaskClub

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BidaskClub upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a hold rating to a buy rating in a report published on Saturday morning.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Intellia Therapeutics from a hold rating to a buy rating and set a $30.00 price target on the stock in a research note on Saturday, August 4th. ValuEngine upgraded shares of Intellia Therapeutics from a hold rating to a buy rating in a research note on Saturday, June 2nd. Chardan Capital restated a buy rating and set a $57.50 target price on shares of Intellia Therapeutics in a research note on Friday, August 24th. Finally, Wedbush restated an outperform rating and set a $36.00 target price on shares of Intellia Therapeutics in a research note on Friday, May 18th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $39.50.

Shares of Intellia Therapeutics stock opened at $31.05 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of -16.52 and a beta of 3.09. Intellia Therapeutics has a 1-year low of $16.33 and a 1-year high of $35.99.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Wednesday, August 1st. The company reported ($0.52) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.03. The business had revenue of $7.68 million for the quarter, compared to analysts’ expectations of $6.39 million. Intellia Therapeutics had a negative net margin of 284.56% and a negative return on equity of 31.54%. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) EPS. equities research analysts forecast that Intellia Therapeutics will post -1.97 earnings per share for the current fiscal year.

In related news, Director Jean Francois Formela sold 6,686 shares of Intellia Therapeutics stock in a transaction on Monday, July 16th. The shares were sold at an average price of $31.17, for a total transaction of $208,402.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Intellia Therapeutics by 55.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,494 shares of the company’s stock valued at $3,379,000 after buying an additional 44,015 shares in the last quarter. Elmwood Wealth Management Inc. lifted its stake in shares of Intellia Therapeutics by 22.8% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 60,342 shares of the company’s stock valued at $1,651,000 after buying an additional 11,204 shares in the last quarter. California Public Employees Retirement System purchased a new position in shares of Intellia Therapeutics during the 2nd quarter valued at $291,000. Granahan Investment Management Inc. MA lifted its stake in shares of Intellia Therapeutics by 9.2% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 120,645 shares of the company’s stock valued at $3,301,000 after buying an additional 10,203 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Intellia Therapeutics by 107.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 15,741 shares of the company’s stock valued at $431,000 after buying an additional 8,144 shares in the last quarter. Institutional investors own 66.52% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a gene editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, hepatitis B virus, and inborn errors of metabolism programs.

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Analyst Recommendations for Intellia Therapeutics (NASDAQ:NTLA)

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