Oppenheimer Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $40.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target lowered by Oppenheimer from $60.00 to $40.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also commented on NTLA. Barclays dropped their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Wells Fargo & Company dropped their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Finally, Robert W. Baird reduced their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Intellia Therapeutics Stock Down 0.2 %

Intellia Therapeutics stock opened at $9.71 on Monday. The company has a fifty day simple moving average of $13.43 and a 200-day simple moving average of $18.69. Intellia Therapeutics has a 12-month low of $9.59 and a 12-month 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, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. During the same period last year, the firm earned ($1.38) earnings per share. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. On average, equities research analysts expect that Intellia Therapeutics will post -5.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of NTLA. Avanza Fonder AB acquired a new position in Intellia Therapeutics during the fourth quarter worth $421,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Intellia Therapeutics by 125.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company’s stock worth $1,411,000 after purchasing an additional 67,276 shares in the last quarter. Signal Advisors Wealth LLC grew its stake in shares of Intellia Therapeutics by 59.9% during the 4th quarter. Signal Advisors Wealth LLC now owns 74,158 shares of the company’s stock worth $865,000 after purchasing an additional 27,782 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of Intellia Therapeutics by 96.4% in the 4th quarter. AdvisorNet Financial Inc now owns 10,085 shares of the company’s stock valued at $118,000 after purchasing an additional 4,950 shares in the last quarter. Finally, Green Alpha Advisors LLC acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at about $138,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.