Illumina (NASDAQ:ILMN) Lifted to “Buy” at Daiwa Capital Markets

Daiwa Capital Markets upgraded shares of Illumina (NASDAQ:ILMN) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat Ratings reports. The firm currently has $154.00 price target on the life sciences company’s stock, up from their previous price target of $120.00.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated an outperform rating and issued a $242.00 target price on shares of Illumina in a research note on Wednesday, August 14th. Evercore ISI cut their target price on Illumina from $195.00 to $175.00 and set an outperform rating for the company in a research note on Tuesday, June 11th. Scotiabank cut their target price on Illumina from $176.00 to $164.00 and set a sector outperform rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their target price on Illumina from $130.00 to $125.00 and set a neutral rating for the company in a research note on Wednesday, August 7th. Finally, TD Cowen upgraded Illumina from a hold rating to a buy rating and lifted their price target for the company from $126.00 to $144.00 in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $151.10.

Illumina Stock Up 1.2 %

ILMN stock opened at $130.31 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of -15.99 and a beta of 1.15. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $172.69. The stock has a fifty day moving average of $114.68 and a 200-day moving average of $122.24.

Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Illumina will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

A number of large investors have recently modified their holdings of the company. Trivant Custom Portfolio Group LLC increased its stake in Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after purchasing an additional 125 shares during the period. Versant Capital Management Inc lifted its position in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Illumina in the second quarter valued at approximately $34,000. Wetzel Investment Advisors Inc. bought a new stake in Illumina in the fourth quarter valued at approximately $37,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.