Illumina (NASDAQ:ILMN) Price Target Increased to $135.00 by Analysts at Barclays

Illumina (NASDAQ:ILMN) had its price target hoisted by Barclays from $125.00 to $135.00 in a report released on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the life sciences company’s stock.

Several other analysts have also recently commented on ILMN. Scotiabank decreased their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Citigroup increased their price target on shares of Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and raised their price objective for the company from $126.00 to $144.00 in a research note on Wednesday, August 14th. Piper Sandler reduced their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and an average target price of $154.33.

Illumina Stock Performance

NASDAQ ILMN opened at $146.07 on Tuesday. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of -17.92 and a beta of 1.15. The company has a 50 day moving average of $132.73 and a 200-day moving average of $121.20. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. Illumina has a 1-year low of $89.00 and a 1-year high of $151.40.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Illumina will post 3.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trivant Custom Portfolio Group LLC raised its holdings in shares of Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Illumina by 86.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after acquiring an additional 132 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina during the second quarter worth $34,000. Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 246 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Illumina during the third quarter worth $65,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.