Illumina (NASDAQ:ILMN) Price Target Raised to $190.00

Illumina (NASDAQ:ILMN) had its price target increased by Piper Sandler from $185.00 to $190.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the life sciences company’s stock.

A number of other research firms have also recently issued reports on ILMN. TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and reduced their target price for the company from $177.00 to $140.00 in a research note on Friday, February 7th. Canaccord Genuity Group reduced their price objective on shares of Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Morgan Stanley decreased their price objective on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada cut their target price on Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.45.

Illumina Trading Up 2.9 %

NASDAQ ILMN opened at $103.57 on Monday. The company has a market capitalization of $16.43 billion, a PE ratio of -13.49 and a beta of 1.10. Illumina has a 1-year low of $99.35 and a 1-year high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The firm’s fifty day simple moving average is $135.10 and its 200-day simple moving average is $135.34.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. As a group, sell-side analysts anticipate that Illumina will post 4.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after buying an additional 146 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Illumina in the 4th quarter worth approximately $32,000. Assetmark Inc. grew its holdings in shares of Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Illumina during the fourth quarter valued at approximately $45,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Illumina in the fourth quarter valued at $48,000. 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.