Intellia Therapeutics (NASDAQ:NTLA) Receives New Coverage from Analysts at Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report released on Friday morning, Benzinga reports. The firm issued a buy rating and a $33.00 price objective on the stock.

Several other research analysts also recently issued reports on NTLA. Wedbush upped their price target on shares of Intellia Therapeutics from $16.00 to $20.00 and gave the stock a neutral rating in a report on Monday, June 1st. Zacks Investment Research downgraded Intellia Therapeutics from a buy rating to a hold rating in a report on Saturday, August 1st. BidaskClub upgraded Intellia Therapeutics from a sell rating to a hold rating in a report on Saturday, September 12th. Credit Suisse Group increased their price objective on Intellia Therapeutics from $19.00 to $21.00 and gave the company a neutral rating in a report on Tuesday, June 2nd. Finally, Chardan Capital restated a buy rating on shares of Intellia Therapeutics in a report on Thursday, August 6th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $28.93.

Shares of NTLA opened at $22.25 on Friday. The firm has a 50 day simple moving average of $20.19 and a two-hundred day simple moving average of $17.81. The company has a market cap of $1.31 billion, a P/E ratio of -9.67 and a beta of 1.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.55 and a quick ratio of 7.55. Intellia Therapeutics has a one year low of $9.18 and a one year high of $25.56.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.08. The company had revenue of $16.26 million during the quarter, compared to the consensus estimate of $9.52 million. Intellia Therapeutics had a negative net margin of 228.87% and a negative return on equity of 40.57%. The company’s revenue for the quarter was up 46.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.56) earnings per share. On average, analysts expect that Intellia Therapeutics will post -2.34 earnings per share for the current fiscal year.

In other news, EVP Jose E. Rivera sold 5,615 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $22.70, for a total transaction of $127,460.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John M. Leonard sold 5,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $21.83, for a total transaction of $109,150.00. Following the transaction, the chief executive officer now directly owns 472,352 shares in the company, valued at approximately $10,311,444.16. The disclosure for this sale can be found here. Insiders have sold 26,845 shares of company stock worth $581,815 in the last ninety days. Insiders own 5.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Intellia Therapeutics by 22.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,257,196 shares of the company’s stock worth $89,486,000 after purchasing an additional 768,947 shares in the last quarter. BlackRock Inc. boosted its position in shares of Intellia Therapeutics by 4.0% during the 1st quarter. BlackRock Inc. now owns 3,792,298 shares of the company’s stock worth $46,379,000 after purchasing an additional 147,068 shares in the last quarter. State Street Corp boosted its position in shares of Intellia Therapeutics by 1.8% during the 1st quarter. State Street Corp now owns 1,724,683 shares of the company’s stock worth $21,093,000 after purchasing an additional 31,214 shares in the last quarter. FMR LLC boosted its position in shares of Intellia Therapeutics by 93.4% during the 2nd quarter. FMR LLC now owns 1,608,631 shares of the company’s stock worth $33,814,000 after purchasing an additional 776,887 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Intellia Therapeutics during the 2nd quarter worth about $18,306,000. 91.79% of the stock is currently owned by institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, and primary hyperoxaluria.

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Analyst Recommendations for Intellia Therapeutics (NASDAQ:NTLA)

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