Illumina, Inc. (NASDAQ:ILMN) Receives $161.50 Average Target Price from Analysts

Illumina, Inc. (NASDAQ:ILMN) has received a consensus rating of “Moderate Buy” from the twenty-four analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $162.18.

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday. Barclays lifted their price objective on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday. Leerink Partners increased their target price on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. 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. Finally, TD Cowen increased their price objective on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday.

Illumina Stock Performance

ILMN stock opened at $151.09 on Wednesday. The stock’s 50 day simple moving average is $138.09 and its 200 day simple moving average is $123.56. 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 12-month low of $89.00 and a 12-month high of $156.66. The stock has a market capitalization of $24.07 billion, a PE ratio of -15.17 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 6.36% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts forecast that Illumina will post 3.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several institutional investors have recently bought and sold shares of ILMN. Versant Capital Management Inc boosted its holdings in shares of 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 purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina during the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV lifted 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 acquiring an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Illumina in the 2nd quarter valued at about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Illumina in the 2nd quarter valued at approximately $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.