JonesTrading analyst Debanjana Chatterjee reiterated a Buy rating on Intellia Therapeutics (NTLA – Research Report) today and set a price target of $33.00.
Debanjana Chatterjee has given his Buy rating due to a combination of factors related to Intellia Therapeutics’ recent financial performance and strategic outlook. The company has reported a robust cash position, ending FY24 with approximately $862 million, which provides a financial runway into the first half of 2027. This strong cash reserve is a positive indicator of the company’s ability to sustain its operations and invest in future growth.
Additionally, Intellia’s operating expenses have peaked, with expectations of a 5-10% year-over-year decline in FY25 due to workforce reductions. This reduction in expenses, combined with the potential for favorable interim analysis results in their ATTR-CM trial, could lead to earlier trial completion and cost savings. These factors contribute to a positive outlook, prompting the increase in the price target from $29 to $33.
In another report released today, Barclays also maintained a Buy rating on the stock with a $26.00 price target.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTLA in relation to earlier this year.