Barclays Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $55.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target reduced by stock analysts at Barclays from $76.00 to $55.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 232.73% from the stock’s current price.

Several other research firms also recently issued reports on NTLA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Chardan Capital reduced their price objective on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Stifel Nicolaus lowered their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned 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 price target of $57.94.

Intellia Therapeutics Stock Up 3.3 %

Shares of NTLA traded up $0.53 during midday trading on Friday, reaching $16.53. 1,063,353 shares of the stock were exchanged, compared to its average volume of 1,654,058. The stock’s 50 day simple moving average is $19.28 and its 200 day simple moving average is $22.25. Intellia Therapeutics has a twelve month low of $13.95 and a twelve month high of $34.87. The company has a market cap of $1.68 billion, a P/E ratio of -3.02 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (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 in the previous year, the company earned ($1.38) earnings per share. The company’s quarterly revenue was down 24.1% on a year-over-year basis. As a group, analysts predict that Intellia Therapeutics will post -5.21 earnings per share for the current year.

Insider Transactions at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the sale, the chief accounting officer now owns 47,012 shares in the company, valued at $893,698.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently added to or reduced their stakes in NTLA. Allspring Global Investments Holdings LLC increased its holdings in shares of Intellia Therapeutics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after buying an additional 750 shares during the period. SG Americas Securities LLC purchased a new position in Intellia Therapeutics in the 1st quarter worth approximately $160,000. Swiss National Bank lifted its position in Intellia Therapeutics by 1.3% in the first quarter. Swiss National Bank now owns 167,900 shares of the company’s stock valued at $4,619,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics during the first quarter valued at approximately $224,000. Finally, ProShare Advisors LLC grew its holdings in shares of Intellia Therapeutics by 11.9% in the first quarter. ProShare Advisors LLC now owns 23,235 shares of the company’s stock worth $639,000 after purchasing an additional 2,466 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.