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

Illumina (NASDAQ:ILMN) had its price target raised by Canaccord Genuity Group from $130.00 to $145.00 in a report issued on Tuesday,Benzinga reports. They currently have a hold rating on the life sciences company’s stock.

A number of other brokerages have also weighed in on ILMN. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. UBS Group raised their price objective on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup upped their target price on shares of Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to 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. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company has a 50 day moving average price of $137.27 and a 200-day moving average price of $123.12. Illumina has a 1-year low of $89.00 and a 1-year high of $156.66. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of -15.58 and a beta of 1.13.

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

Hedge Funds Weigh In On Illumina

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in Illumina during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV boosted its position in Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after buying an additional 168 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Illumina in the second quarter worth $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Illumina during the second quarter worth $63,000. 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.