Illumina (NASDAQ:ILMN) Given New $135.00 Price Target at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its target price decreased by analysts at Canaccord Genuity Group from $145.00 to $135.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 20.17% from the stock’s current price.

A number of other brokerages have also issued reports on ILMN. Guggenheim lowered their target price on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. Royal Bank of Canada increased their price target on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays decreased their price target on Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Monday. Finally, UBS Group increased their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.75.

Illumina Stock Down 8.5 %

Illumina stock traded down $10.46 during mid-day trading on Friday, hitting $112.34. The company had a trading volume of 3,787,744 shares, compared to its average volume of 1,912,013. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of -11.30 and a beta of 1.10. Illumina has a 1 year low of $100.08 and a 1 year high of $156.66. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average of $137.37 and a 200 day moving average of $135.34.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. On average, sell-side analysts expect that Illumina will post 4.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC lifted its stake in Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after purchasing an additional 66 shares during the last quarter. Bank of Stockton lifted its stake in Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after purchasing an additional 80 shares during the last quarter. Caprock Group LLC lifted its stake in Illumina by 3.0% during the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after purchasing an additional 83 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Illumina by 2.0% during the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after purchasing an additional 90 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in Illumina by 1.4% during the fourth quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock worth $885,000 after purchasing an additional 90 shares during the last quarter. 89.42% of the stock is currently 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.