Argus Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Illumina (NASDAQ:ILMN) had its target price lifted by Argus from $180.00 to $235.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the life sciences company’s stock. Argus’ price target indicates a potential upside of 9.77% from the stock’s current price.

A number of other research analysts also recently weighed in on ILMN. Piper Sandler reiterated an “overweight” rating and set a $225.00 target price (up from $200.00) on shares of Illumina in a report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on Illumina from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. TD Cowen upped their price target on Illumina from $192.00 to $210.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Leerink Partners increased their price objective on Illumina from $175.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Canaccord Genuity Group raised their price objective on Illumina from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $191.31.

Illumina Trading Up 0.4%

NASDAQ:ILMN opened at $214.08 on Thursday. The company has a 50-day moving average price of $196.70 and a 200-day moving average price of $157.87. Illumina has a 12 month low of $88.00 and a 12 month high of $231.81. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $32.33 billion, a price-to-earnings ratio of 39.90, a P/E/G ratio of 2.93 and a beta of 1.46.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Equities analysts predict that Illumina will post 5.36 EPS for the current year.

Insider Activity

In other news, SVP Patricia Leckman sold 783 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $162.59, for a total value of $127,307.97. Following the sale, the senior vice president directly owned 21,259 shares of the company’s stock, valued at $3,456,500.81. The trade was a 3.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 457,858 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total value of $91,617,385.80. Following the completion of the sale, the director owned 2,372,694 shares in the company, valued at $474,776,069.40. The trade was a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,799,688 shares of company stock worth $379,517,231. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Illumina

Institutional investors have recently modified their holdings of the stock. Elyxium Wealth LLC bought a new position in Illumina in the 4th quarter worth about $25,000. Fiduciary Financial Advisors purchased a new stake in Illumina during the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new stake in Illumina during the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in Illumina during the 3rd quarter valued at about $32,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in Illumina in the fourth quarter worth about $33,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.