Zacks: Brokerages Expect Intellia Therapeutics, Inc. (NTLA) Will Announce Quarterly Sales of $5.83 Million
Wall Street analysts expect Intellia Therapeutics, Inc. (NASDAQ:NTLA) to post sales of $5.83 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Intellia Therapeutics’ earnings. The highest sales estimate is $6.80 million and the lowest is $5.00 million. Intellia Therapeutics posted sales of $4.87 million during the same quarter last year, which would suggest a positive year over year growth rate of 19.7%. The firm is expected to announce its next earnings report on Tuesday, November 7th.
On average, analysts expect that Intellia Therapeutics will report full-year sales of $5.83 million for the current fiscal year, with estimates ranging from $23.90 million to $35.70 million. For the next financial year, analysts expect that the company will post sales of $40.00 million per share, with estimates ranging from $23.70 million to $56.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Intellia Therapeutics.
Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.03). The company had revenue of $5.90 million during the quarter, compared to the consensus estimate of $5.83 million. Intellia Therapeutics had a negative net margin of 204.48% and a negative return on equity of 22.70%. The company’s revenue was up 40.5% on a year-over-year basis.
A number of analysts have recently weighed in on the company. ValuEngine upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Barclays PLC assumed coverage on Intellia Therapeutics in a research note on Wednesday, September 6th. They issued an “overweight” rating and a $29.00 target price for the company. Chardan Capital lowered Intellia Therapeutics from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research note on Tuesday, August 29th. Cann restated a “hold” rating on shares of Intellia Therapeutics in a research note on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. assumed coverage on Intellia Therapeutics in a research note on Tuesday, July 18th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.43.
In other Intellia Therapeutics news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $16.24, for a total transaction of $2,436,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NTLA. SG Americas Securities LLC bought a new position in Intellia Therapeutics during the second quarter worth about $101,000. IHT Wealth Management LLC bought a new position in Intellia Therapeutics during the first quarter worth about $117,000. Bank of Montreal Can boosted its holdings in Intellia Therapeutics by 1,031.7% during the second quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock worth $127,000 after buying an additional 7,222 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in Intellia Therapeutics by 117.7% during the second quarter. Nationwide Fund Advisors now owns 8,048 shares of the company’s stock worth $129,000 after buying an additional 4,351 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in Intellia Therapeutics during the second quarter worth about $134,000. Hedge funds and other institutional investors own 46.52% of the company’s stock.
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About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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