Royal Bank of Canada Lowers Illumina (NASDAQ:ILMN) Price Target to $128.00

Illumina (NASDAQ:ILMN) had its price objective decreased by research analysts at Royal Bank of Canada from $247.00 to $128.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 54.58% from the company’s current price.

A number of other research firms have also recently weighed in on ILMN. Stephens reissued an “overweight” rating and issued a $156.00 target price on shares of Illumina in a research note on Tuesday. HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, February 28th. Piper Sandler raised their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and lowered their price target for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Guggenheim dropped their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and an average price target of $140.90.

Illumina Stock Performance

ILMN stock traded down $1.72 during midday trading on Wednesday, hitting $82.81. 776,769 shares of the company traded hands, compared to its average volume of 2,639,527. Illumina has a twelve month low of $80.18 and a twelve month high of $156.66. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of -10.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The business has a 50 day simple moving average of $116.45 and a 200-day simple moving average of $130.84.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, equities research analysts predict that Illumina will post 4.51 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

Hedge funds have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC acquired a new stake in Illumina in the fourth quarter valued at $751,000. Zacks Investment Management bought a new stake in shares of Illumina in the 3rd quarter valued at about $2,924,000. Van ECK Associates Corp raised its position in shares of Illumina by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock worth $20,347,000 after acquiring an additional 22,718 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Illumina during the fourth quarter worth about $1,464,000. Finally, Allworth Financial LP lifted its stake in shares of Illumina by 720.7% in the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after acquiring an additional 6,263 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.