Leerink Partners Raises Illumina (NASDAQ:ILMN) Price Target to $200.00

Illumina (NASDAQ:ILMN) had its target price upped by equities researchers at Leerink Partners from $160.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the life sciences company’s stock. Leerink Partners’ price objective points to a potential upside of 36.92% from the stock’s previous close.

Several other research firms have also commented on ILMN. TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and upped their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Citigroup upped their price target on shares of Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. 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 report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Illumina in a report on Wednesday, July 10th. Finally, UBS Group upped their price objective on shares of Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.33.

Illumina Price Performance

Shares of ILMN opened at $146.07 on Thursday. The firm has a market capitalization of $23.27 billion, a PE ratio of -17.92 and a beta of 1.15. 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 has a 1-year low of $89.00 and a 1-year high of $151.40. The company’s fifty day moving average price is $132.73 and its 200-day moving average price is $121.20.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Illumina will post 3.63 EPS for the current year.

Institutional Trading of Illumina

Several hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in shares of Illumina in the 3rd quarter valued at approximately $782,000. Raymond James & Associates boosted its position in shares of Illumina by 39.6% during the 3rd quarter. Raymond James & Associates now owns 441,182 shares of the life sciences company’s stock worth $57,535,000 after purchasing an additional 125,073 shares during the period. Claro Advisors LLC purchased a new position in shares of Illumina during the 3rd quarter worth approximately $1,275,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Illumina by 28.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,370 shares of the life sciences company’s stock worth $2,004,000 after purchasing an additional 3,393 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Illumina during the 3rd quarter worth approximately $65,000. Hedge funds and other institutional investors 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.