Illumina (NASDAQ:ILMN) Price Target Raised to $254.00

Illumina (NASDAQ:ILMN) had its price target boosted by Royal Bank of Canada from $252.00 to $254.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the life sciences company’s stock.

ILMN has been the subject of a number of other research reports. Piper Sandler decreased their price target on Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Barclays boosted their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Leerink Partners upped their price target on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and an average target price of $162.18.

Illumina Price Performance

NASDAQ ILMN opened at $155.15 on Tuesday. Illumina has a 12 month low of $89.00 and a 12 month high of $156.66. The firm has a market capitalization of $24.72 billion, a PE ratio of -15.58 and a beta of 1.13. The company’s 50 day simple moving average is $137.27 and its 200 day simple moving average is $123.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. The business 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%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts forecast that Illumina will post 3.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% in the 2nd 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 period. Industrial Alliance Investment Management Inc. bought a new stake in shares of Illumina in the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its position in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina during the second quarter valued at about $61,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Illumina in the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.