BMO Capital Markets Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by BMO Capital Markets from $70.00 to $50.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on NTLA. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Oppenheimer cut their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Chardan Capital raised their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Citigroup dropped their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $10.20 on Friday. Intellia Therapeutics has a 1-year low of $9.93 and a 1-year high of $34.87. The firm has a 50-day simple moving average of $13.77 and a two-hundred day simple moving average of $18.93. The stock has a market cap of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same quarter last year, the company earned ($1.38) earnings per share. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 28,735 shares of company stock valued at $349,909. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after acquiring an additional 1,550 shares during the period. Eastern Bank acquired a new position in Intellia Therapeutics in the third quarter valued at $41,000. Values First Advisors Inc. acquired a new position in Intellia Therapeutics in the third quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Finally, KBC Group NV grew its holdings in shares of Intellia Therapeutics by 37.3% during the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 1,020 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.