Royal Bank of Canada Reaffirms “Outperform” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They presently have a $54.00 target price on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 133.26% from the stock’s current price.

NTLA has been the subject of a number of other reports. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. lowered their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus lowered their price target on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.77.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock traded up $0.63 on Thursday, reaching $23.15. 23,377 shares of the company were exchanged, compared to its average volume of 1,502,510. Intellia Therapeutics has a 1-year low of $19.21 and a 1-year high of $34.94. The company has a market cap of $2.23 billion, a P/E ratio of -4.32 and a beta of 1.77. The stock’s 50 day moving average price is $23.38 and its 200-day moving average price is $24.24.

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

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. Blue Trust Inc. raised its stake in shares of Intellia Therapeutics by 1,664.3% during 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 raised its stake in shares of Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares during the last quarter. First Horizon Advisors Inc. raised 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 worth $58,000 after purchasing an additional 472 shares during the last quarter. GAMMA Investing LLC raised 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 worth $59,000 after purchasing an additional 2,459 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in shares of Intellia Therapeutics by 61.1% during the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock worth $113,000 after purchasing an additional 1,563 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.