Intellia Therapeutics (NASDAQ:NTLA) Given Buy Rating at Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $49.00 target price on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 258.84% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Leerink Partners set a $35.00 price objective on shares of Intellia Therapeutics in a report on Monday, April 27th. Robert W. Baird boosted their target price on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Morgan Stanley increased their target price on Intellia Therapeutics from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Wedbush restated a “neutral” rating and issued a $12.00 price target on shares of Intellia Therapeutics in a research note on Monday. Finally, Royal Bank Of Canada lifted their price target on Intellia Therapeutics from $9.00 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.46.

Intellia Therapeutics Stock Performance

Shares of NTLA traded down $1.27 during midday trading on Tuesday, hitting $13.66. The company had a trading volume of 3,626,204 shares, compared to its average volume of 5,609,577. Intellia Therapeutics has a 1 year low of $7.95 and a 1 year high of $28.25. The firm has a market capitalization of $1.91 billion, a P/E ratio of -3.86 and a beta of 1.92. The company’s 50-day simple moving average is $13.64 and its 200-day simple moving average is $12.37.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The firm had revenue of $15.05 million for the quarter, compared to analyst estimates of $13.81 million. During the same period in the prior year, the firm earned ($1.10) earnings per share. Equities analysts predict that Intellia Therapeutics will post -3.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Intellia Therapeutics during the third quarter worth about $30,000. Advisory Services Network LLC purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at about $33,000. Headlands Technologies LLC acquired a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at about $26,000. Comerica Bank boosted its position in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after purchasing an additional 901 shares during the period. Finally, Danske Bank A S purchased a new position in Intellia Therapeutics during the 3rd quarter worth approximately $50,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.