Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Illumina (NASDAQ:ILMN) had its target price raised by analysts at Royal Bank of Canada from $252.00 to $254.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 68.04% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Scotiabank cut their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and upped their price target for the company from $120.00 to $154.00 in a report on Friday, August 16th. Citigroup upped their price target on shares of Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Stephens reissued an “overweight” rating and set a $170.00 target price on shares of Illumina in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.45.

Illumina Trading Down 1.5 %

ILMN traded down $2.34 during trading on Tuesday, hitting $151.15. 1,158,726 shares of the company’s stock were exchanged, compared to its average volume of 1,992,775. 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 $155.37. The stock has a 50 day moving average price of $136.39 and a 200 day moving average price of $122.65. The firm has a market cap of $24.08 billion, a P/E ratio of -7.89 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, beating 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 negative net margin of 68.73% and a positive return on equity of 3.08%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, analysts expect that Illumina will post 3.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Industrial Alliance Investment Management Inc. acquired a new position in shares of Illumina in the second quarter worth approximately $34,000. Versant Capital Management Inc increased 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 valued at $34,000 after acquiring an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after acquiring an additional 168 shares in the last quarter. Focused Wealth Management Inc bought a new stake in shares of Illumina during the third quarter valued at approximately $63,000. Finally, Hollencrest Capital Management bought a new stake in shares of Illumina during the third quarter valued at approximately $63,000. 89.42% of the stock is 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.