Oppenheimer Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price dropped by equities research analysts at Oppenheimer from $70.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 260.36% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Citigroup reduced their price objective on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Chardan Capital reduced their price target on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.33.

Intellia Therapeutics Trading Down 4.9 %

Shares of NTLA stock opened at $16.65 on Monday. Intellia Therapeutics has a 52 week low of $13.95 and a 52 week high of $34.87. The company has a market cap of $1.69 billion, a PE ratio of -3.08 and a beta of 1.81. The company’s fifty day simple moving average is $19.07 and its 200-day simple moving average is $22.21.

Intellia Therapeutics (NASDAQ:NTLA) last issued its 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 during the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.38) EPS. Equities research analysts expect that Intellia Therapeutics will post -5.21 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 0.00 % 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. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors have recently made changes to their positions in NTLA. Blue Trust Inc. increased its holdings in shares of Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after purchasing an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after acquiring an additional 1,550 shares in the last quarter. Eastern Bank purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter worth $41,000. First Horizon Advisors Inc. lifted its position in shares of Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the period. Finally, Values First Advisors Inc. bought a new position in shares of Intellia Therapeutics in the 3rd quarter worth $54,000. Institutional investors own 88.77% of the company’s stock.

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.