Barclays Issues Positive Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price objective hoisted by Barclays from $135.00 to $145.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the life sciences company’s stock.

A number of other brokerages have also recently issued reports on ILMN. Citigroup increased their price objective on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird increased their target price on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler reduced their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and upped their target price for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. One 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $161.50.

Illumina Stock Performance

NASDAQ ILMN opened at $154.96 on Tuesday. The firm has a market cap of $24.69 billion, a P/E ratio of -15.56 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $136.87 and its 200-day moving average is $122.92. Illumina has a 12-month low of $89.00 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. Illumina’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. Sell-side analysts predict that Illumina will post 3.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ILMN. Versant Capital Management Inc boosted its position in Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in shares of Illumina in the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV increased its stake 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 buying an additional 168 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Illumina during the second quarter valued at approximately $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Illumina in the second quarter worth $63,000. 89.42% of the stock is owned by hedge funds and other 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.