Illumina (NASDAQ:ILMN) Announces Quarterly Earnings Results

Illumina (NASDAQ:ILMN) released its quarterly earnings results on Thursday. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06), Zacks reports. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%.

Illumina Stock Performance

NASDAQ ILMN traded down $1.88 during trading on Thursday, reaching $122.80. The company’s stock had a trading volume of 2,145,761 shares, compared to its average volume of 1,834,142. Illumina has a 12 month low of $100.08 and a 12 month high of $156.66. The firm has a 50 day moving average price of $137.80 and a 200 day moving average price of $135.42. The firm has a market capitalization of $19.48 billion, a price-to-earnings ratio of -12.33 and a beta of 1.10. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group lifted their target price on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. UBS Group increased their price target on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Barclays lowered their price target on Illumina from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Monday. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average price target of $164.84.

Illumina Company Profile

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.