Intellia Therapeutics (NASDAQ:NTLA) Rating Reiterated by Royal Bank of Canada

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $54.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 146.80% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Canaccord Genuity Group reiterated a “buy” rating and issued a $73.00 target price on shares of Intellia Therapeutics in a research note on Thursday, June 27th. JPMorgan Chase & Co. cut their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Stifel Nicolaus decreased their price target on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $61.77.

Intellia Therapeutics Stock Performance

Shares of Intellia Therapeutics stock opened at $21.88 on Thursday. The stock has a market capitalization of $2.11 billion, a P/E ratio of -4.08 and a beta of 1.77. Intellia Therapeutics has a 52-week low of $19.21 and a 52-week high of $34.87. The stock’s 50-day simple moving average is $23.26 and its 200 day simple moving average is $24.16.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $19.68 million. The firm’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.40) earnings per share. Equities research analysts forecast that Intellia Therapeutics will post -5.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Intellia Therapeutics by 1,664.3% during the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after purchasing an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after buying an additional 1,550 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after buying an additional 472 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Intellia Therapeutics by 1,322.0% during the second quarter. GAMMA Investing LLC now owns 2,645 shares of the company’s stock valued at $59,000 after buying an additional 2,459 shares during the last quarter. Finally, EntryPoint Capital LLC increased its holdings in shares of Intellia Therapeutics by 61.1% in the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock worth $113,000 after buying an additional 1,563 shares during the period. 88.77% of the stock is currently owned by 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.