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

Illumina (NASDAQ:ILMN) had its price target lifted by Canaccord Genuity Group from $130.00 to $145.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the life sciences company’s stock.

Several other equities analysts have also commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $252.00 price target on shares of Illumina in a research note on Thursday, October 10th. TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and raised their target price for the company from $126.00 to $144.00 in a research report on Wednesday, August 14th. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, August 28th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $154.00 in a report on Friday, August 16th. Finally, Leerink Partners upped their target price on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.18.

Illumina Stock Up 2.2 %

Shares of ILMN opened at $155.15 on Tuesday. The firm has a fifty day moving average price of $137.27 and a 200-day moving average price of $123.12. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $24.72 billion, a P/E ratio of -15.58 and a beta of 1.13. Illumina has a 12-month low of $89.00 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 6.36% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities research analysts expect that Illumina will post 3.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Primecap Management Co. CA boosted its position in Illumina by 462.5% in the second 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 last quarter. Millennium Management LLC lifted its stake in Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after acquiring an additional 1,118,747 shares during the period. Capital World Investors boosted its holdings in shares of Illumina by 41.1% in the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after acquiring an additional 801,814 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Illumina in the second quarter worth $77,628,000. Finally, Swedbank AB purchased a new position in shares of Illumina during the first quarter worth $99,682,000. 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.