Oppenheimer analyst Leah R. Cann maintained a Hold rating on Intellia Therapeutics (NTLA) today. The company’s shares opened today at $16.06, close to its 52-week low of $15.70.
Cann noted:
“Under this expanded collaboration with Novartis, Intellia will expand into a new therapeutic area, ocular, and receive additional funding. Importantly, having broader rights to Novartis’ LNP delivery could be meaningful for Intellia’s development programs and potential commercialization of these therapies. While our revenue outlook is unchanged at this time, there will be $10 million in upside from the upfront payment. We do not know the timing of this payment recognition.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 4.8% and a 44.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Currently, the analyst consensus on Intellia Therapeutics is a Moderate Buy with an average price target of $32.30.
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The company has a one-year high of $35.99 and a one-year low of $15.70. Currently, Intellia Therapeutics has an average volume of 693.1K.
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Intellia Therapeutics, Inc. engages in the development of gene editing-based therapies. 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.
