Illumina (NASDAQ:ILMN) Price Target Raised to $145.00 at Barclays

Illumina (NASDAQ:ILMN) had its price target lifted by Barclays from $135.00 to $145.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the life sciences company’s stock.

Other analysts also recently issued reports about the company. StockNews.com began coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. UBS Group raised their price objective on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Leerink Partners upped their target price on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and increased their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Finally, Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.50.

Illumina Price Performance

Shares of ILMN opened at $154.96 on Tuesday. The firm has a market cap of $24.69 billion, a PE ratio of -15.56 and a beta of 1.13. Illumina has a 52-week low of $89.00 and a 52-week high of $156.66. The business’s 50 day moving average price is $136.87 and its two-hundred day moving average price is $122.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. Illumina’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, equities analysts anticipate that Illumina will post 3.62 EPS for the current year.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently made changes to their positions in ILMN. Versant Capital Management Inc increased its holdings in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Illumina in the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its position in shares of Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after acquiring an additional 168 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Illumina during the 2nd quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Illumina in the 2nd quarter worth approximately $63,000. 89.42% of the stock is currently owned by institutional investors.

About Illumina

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.