Piper Sandler Boosts Illumina (NASDAQ:ILMN) Price Target to $190.00

Illumina (NASDAQ:ILMN) had its price objective raised by equities research analysts at Piper Sandler from $185.00 to $190.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the life sciences company’s stock. Piper Sandler’s price target indicates a potential upside of 85.12% from the company’s previous close.

ILMN has been the topic of several other reports. Royal Bank of Canada reduced their target price on Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a research report on Friday. Guggenheim cut their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Friday. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. UBS Group increased their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Stephens raised their price objective on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.15.

Illumina Price Performance

Shares of NASDAQ:ILMN traded down $8.43 on Monday, hitting $102.64. The company had a trading volume of 1,556,343 shares, compared to its average volume of 1,946,652. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. Illumina has a 52-week low of $100.08 and a 52-week high of $156.66. The business has a 50 day moving average of $136.70 and a 200 day moving average of $135.56. The company has a market cap of $16.28 billion, a PE ratio of -13.41 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data 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 12.59%. As a group, equities analysts anticipate that Illumina will post 4.42 earnings per share for the current fiscal year.

Institutional Trading of Illumina

A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC raised its stake in Illumina by 1.7% in the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after buying an additional 66 shares during the period. Bank of Stockton boosted its holdings in shares of Illumina by 3.8% in the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after purchasing an additional 80 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of Illumina by 3.0% in the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock valued at $376,000 after purchasing an additional 83 shares in the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Illumina by 2.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after acquiring an additional 90 shares in the last quarter. Finally, Stephens Inc. AR boosted its holdings in shares of Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after acquiring an additional 90 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

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.