$10.41 Million in Sales Expected for Intellia Therapeutics Inc (NTLA) This Quarter

Wall Street brokerages forecast that Intellia Therapeutics Inc (NASDAQ:NTLA) will post sales of $10.41 million for the current quarter, Zacks reports. Five analysts have provided estimates for Intellia Therapeutics’ earnings, with the lowest sales estimate coming in at $7.00 million and the highest estimate coming in at $18.50 million. Intellia Therapeutics reported sales of $6.67 million during the same quarter last year, which indicates a positive year over year growth rate of 56.1%. The firm is scheduled to report its next earnings results on Wednesday, March 13th.

According to Zacks, analysts expect that Intellia Therapeutics will report full year sales of $32.95 million for the current financial year, with estimates ranging from $29.55 million to $41.05 million. For the next financial year, analysts expect that the firm will report sales of $43.55 million, with estimates ranging from $20.00 million to $95.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Intellia Therapeutics.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Wednesday, October 31st. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.05). The firm had revenue of $7.41 million during the quarter, compared to the consensus estimate of $11.58 million. Intellia Therapeutics had a negative return on equity of 31.70% and a negative net margin of 308.81%. Intellia Therapeutics’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned ($0.44) EPS.

A number of brokerages have recently weighed in on NTLA. Leerink Swann began coverage on shares of Intellia Therapeutics in a research note on Tuesday, November 27th. They set an “outperform” rating and a $23.00 target price on the stock. Zacks Investment Research lowered shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Wedbush lowered shares of Intellia Therapeutics from an “outperform” rating to a “neutral” rating and cut their target price for the company from $36.00 to $20.00 in a research note on Friday, November 2nd. BidaskClub lowered shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, November 2nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Intellia Therapeutics in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Intellia Therapeutics presently has a consensus rating of “Hold” and an average target price of $33.42.

Several institutional investors and hedge funds have recently made changes to their positions in NTLA. Royal Bank of Canada boosted its stake in shares of Intellia Therapeutics by 521.7% during the 1st quarter. Royal Bank of Canada now owns 30,320 shares of the company’s stock valued at $640,000 after purchasing an additional 25,443 shares in the last quarter. First Trust Advisors LP purchased a new position in Intellia Therapeutics during the 2nd quarter valued at about $2,859,000. Chevy Chase Trust Holdings Inc. lifted its position in Intellia Therapeutics by 11.5% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 655,882 shares of the company’s stock valued at $17,945,000 after acquiring an additional 67,714 shares during the period. State of Wisconsin Investment Board lifted its position in Intellia Therapeutics by 238.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 33,800 shares of the company’s stock valued at $925,000 after acquiring an additional 23,800 shares during the period. Finally, Sei Investments Co. lifted its position in Intellia Therapeutics by 633.3% during the 2nd quarter. Sei Investments Co. now owns 5,866 shares of the company’s stock valued at $160,000 after acquiring an additional 5,066 shares during the period. 67.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NTLA traded down $1.88 during trading hours on Friday, reaching $16.41. 790,904 shares of the company traded hands, compared to its average volume of 675,974. The firm has a market capitalization of $777.64 million, a price-to-earnings ratio of -8.73 and a beta of 3.88. Intellia Therapeutics has a 12 month low of $15.70 and a 12 month high of $35.99.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a gene 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, hepatitis B virus, and inborn errors of metabolism programs.

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