Illumina (NASDAQ:ILMN) Price Target Raised to $254.00 at Royal Bank of Canada

Illumina (NASDAQ:ILMN) had its target price raised by Royal Bank of Canada from $252.00 to $254.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the life sciences company’s stock.

A number of other research analysts also recently issued reports on the company. TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and lifted their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Barclays lifted their price target on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, August 28th. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.18.

Illumina Trading Down 2.6 %

Shares of NASDAQ ILMN opened at $151.09 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.86 and a current ratio of 2.43. The business’s 50 day moving average price is $138.09 and its 200-day moving average price is $123.56. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $156.66. The company has a market cap of $24.07 billion, a price-to-earnings ratio of -15.17 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. On average, sell-side analysts expect that Illumina will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Industrial Alliance Investment Management Inc. acquired a new position in shares of Illumina during the 2nd quarter worth approximately $34,000. Versant Capital Management Inc increased its position in shares of Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in shares of Illumina during the 3rd quarter worth $63,000. Finally, Hollencrest Capital Management acquired a new position in shares of Illumina during the third quarter worth $63,000. 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.