Intellia Therapeutics (NASDAQ:NTLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm presently has a $25.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 1.75% from the company’s previous close.
According to Zacks, “Intellia Therapeutics is a leading genome editing company, focused on developing therapeutics utilizing a biological tool known as CRISPR-Cas9 system. It believes the CRISPR-Cas9 technology has the potential to transform medicine by permanently editing disease-associated genes in the human body with a single treatment course. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. Intellia’s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR-Cas9 technology and create a new class of therapeutic products. “
Other analysts have also recently issued reports about the stock. Chardan Capital restated a “buy” rating and set a $57.50 target price on shares of Intellia Therapeutics in a research report on Monday, June 1st. BidaskClub downgraded Intellia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 29th. ValuEngine raised shares of Intellia Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Oppenheimer reissued a “hold” rating on shares of Intellia Therapeutics in a research note on Friday, May 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $22.00 price target on shares of Intellia Therapeutics in a research note on Thursday, April 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.25.
Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, May 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.24). The firm had revenue of $12.92 million during the quarter, compared to the consensus estimate of $21.98 million. Intellia Therapeutics had a negative return on equity of 40.89% and a negative net margin of 239.98%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.49) earnings per share. As a group, research analysts predict that Intellia Therapeutics will post -2.57 earnings per share for the current year.
In related news, CEO John M. Leonard sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $21.83, for a total value of $109,150.00. Following the transaction, the chief executive officer now directly owns 472,352 shares of the company’s stock, valued at approximately $10,311,444.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jose E. Rivera sold 5,615 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.21, for a total value of $119,094.15. The disclosure for this sale can be found here. Insiders sold a total of 21,230 shares of company stock valued at $455,309 over the last ninety days. 4.10% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in NTLA. Two Sigma Advisers LP increased its position in shares of Intellia Therapeutics by 10.8% during the first quarter. Two Sigma Advisers LP now owns 256,917 shares of the company’s stock valued at $3,142,000 after acquiring an additional 25,000 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Intellia Therapeutics by 290.6% in the first quarter. BNP Paribas Arbitrage SA now owns 20,876 shares of the company’s stock valued at $255,000 after purchasing an additional 15,532 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Intellia Therapeutics by 77.7% in the 1st quarter. JPMorgan Chase & Co. now owns 223,622 shares of the company’s stock valued at $2,735,000 after buying an additional 97,807 shares during the period. Ameritas Investment Company LLC purchased a new stake in Intellia Therapeutics during the first quarter worth about $31,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Intellia Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 244,195 shares of the company’s stock worth $3,583,000 after buying an additional 5,695 shares in the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.
Intellia Therapeutics Company Profile
Intellia Therapeutics, Inc, a genome 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, and primary hyperoxaluria.
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