Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Illumina (NASDAQ:ILMN) had its target price boosted by stock analysts at Royal Bank of Canada from $252.00 to $254.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 68.04% from the company’s previous close.

A number of other brokerages have also recently commented on ILMN. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, August 28th. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and raised their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Scotiabank decreased their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Leerink Partners raised their price target on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.45.

Illumina Stock Down 1.5 %

Shares of ILMN traded down $2.34 during mid-day trading on Tuesday, reaching $151.15. The company had a trading volume of 1,158,726 shares, compared to its average volume of 1,992,775. The firm has a 50-day moving average price of $136.39 and a 200 day moving average price of $122.65. 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 has a 52 week low of $89.00 and a 52 week high of $155.37. The company has a market capitalization of $24.08 billion, a price-to-earnings ratio of -7.89 and a beta of 1.13.

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

Institutional Trading of Illumina

A number of hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA grew its stake in shares of Illumina by 462.5% in the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after buying an additional 1,997,010 shares during the period. Millennium Management LLC boosted its position in shares of Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after purchasing an additional 1,118,747 shares during the period. Capital World Investors boosted its position in shares of Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after purchasing an additional 801,814 shares during the period. Marshall Wace LLP purchased a new position in Illumina in the 2nd quarter valued at approximately $77,628,000. Finally, Swedbank AB acquired a new stake in shares of Illumina in the 1st quarter valued at $99,682,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.