Intellia Therapeutics’ (NTLA) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report published on Thursday, TipRanks reports. They currently have a $177.00 price target on the stock.

Several other brokerages have also recently issued reports on NTLA. Truist lifted their price objective on shares of Intellia Therapeutics from $80.00 to $160.00 and gave the stock a buy rating in a research note on Monday, June 28th. HC Wainwright reaffirmed a buy rating and issued a $171.00 price objective on shares of Intellia Therapeutics in a research note on Monday. Barclays lifted their target price on shares of Intellia Therapeutics from $88.00 to $134.00 and gave the stock an overweight rating in a research report on Monday, June 28th. JMP Securities lifted their target price on shares of Intellia Therapeutics from $160.00 to $175.00 and gave the stock a market outperform rating in a research report on Friday, August 6th. Finally, Robert W. Baird reissued a hold rating and issued a $85.00 target price on shares of Intellia Therapeutics in a research report on Thursday, July 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Intellia Therapeutics has a consensus rating of Buy and a consensus target price of $143.38.

Shares of NTLA opened at $153.85 on Thursday. The firm’s 50 day moving average is $152.37 and its 200-day moving average is $104.72. The stock has a market capitalization of $11.31 billion, a P/E ratio of -53.79 and a beta of 2.14. Intellia Therapeutics has a 12-month low of $18.81 and a 12-month high of $202.73.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.40). The business had revenue of $6.55 million during the quarter, compared to analyst estimates of $12.21 million. Intellia Therapeutics had a negative return on equity of 39.01% and a negative net margin of 442.58%. The business’s revenue for the quarter was down 59.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.61) EPS. On average, equities research analysts forecast that Intellia Therapeutics will post -3.12 earnings per share for the current fiscal year.

In other news, CEO John M. Leonard sold 22,682 shares of the business’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $151.28, for a total value of $3,431,332.96. Following the completion of the sale, the chief executive officer now directly owns 741,987 shares in the company, valued at $112,247,793.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn Goddard sold 3,482 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $180.12, for a total transaction of $627,177.84. The disclosure for this sale can be found here. Insiders have sold 833,279 shares of company stock worth $117,165,467 over the last ninety days. 3.90% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in NTLA. Vanguard Group Inc. increased its holdings in Intellia Therapeutics by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,026,177 shares of the company’s stock valued at $975,698,000 after buying an additional 447,433 shares during the period. BlackRock Inc. increased its holdings in Intellia Therapeutics by 4.3% in the 1st quarter. BlackRock Inc. now owns 5,271,626 shares of the company’s stock valued at $423,074,000 after buying an additional 218,781 shares during the period. FMR LLC increased its holdings in Intellia Therapeutics by 137.1% in the 2nd quarter. FMR LLC now owns 2,728,802 shares of the company’s stock valued at $441,820,000 after buying an additional 1,577,813 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Intellia Therapeutics by 7.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,486,491 shares of the company’s stock valued at $402,588,000 after buying an additional 162,001 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Intellia Therapeutics by 2,730.6% in the 1st quarter. Alliancebernstein L.P. now owns 1,757,812 shares of the company’s stock valued at $141,073,000 after buying an additional 1,695,712 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a clinical stage genome editing company, which engages in the development of curative therapeutics using the CRISPR/Cas9 system. Its CRISPR/Cas9 system transforms medicine by both producing therapeutics that permanently edit and/or correct disease-associated genes in the human body with a single treatment course, and creates engineered cells that can treat oncological and immunological diseases.

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Analyst Recommendations for Intellia Therapeutics (NASDAQ:NTLA)

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