Intellia Therapeutics Initiated with a Hold at Oppenheimer

By Carrie Williams

Intellia Therapeutics (NASDAQ: NTLA) received a Hold rating from Oppenheimer analyst Leah R. Cann today. The company’s shares opened today at $17.

R. Cann commented:

“We are initiating coverage of Intellia Therapeutics, a development-stage biotechnology platform company, with a Perform rating. Intellia Therapeutics is developing gene editing therapies for the treatment of various human diseases. This gene editing system, CRISPR, utilizes short sequences of RNA to guide a DNA cutting enzyme (DNA nuclease) to cut specific sequences of DNA. We anticipate Intellia will continue to form collaborations for its CRISPR technology and advance its current collaborations into later stages of development. We believe Intellia is currently in a weaker patent position than competitor Editas Medicine, but this is subject to litigation appeal.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 15.6% and a 80.0% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Syros Pharmaceuticals.

Intellia Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $24.

Based on Intellia Therapeutics’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $6.22 million and GAAP net loss of $12.63 million. In comparison, last year the company earned revenue of $4.21 million and had a GAAP net loss of $6.9 million.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock.

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Intellia Therapeutics, Inc. engages in the development of proprietary, potentially curative therapeutics. It provides scientific expertise, clinical development and intellectual property position to unlock broad therapeutic applications of CRISPR or Cas9 genome editing and develop a potential new drug class.