Morgan Stanley Lowers Illumina (NASDAQ:ILMN) Price Target to $150.00

Illumina (NASDAQ:ILMN) had its target price lowered by Morgan Stanley from $156.00 to $150.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the life sciences company’s stock.

A number of other research firms have also recently issued reports on ILMN. JPMorgan Chase & Co. lifted their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their price target on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Piper Sandler dropped their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Barclays lifted their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Citigroup downgraded shares of Illumina from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.63.

Illumina Price Performance

Shares of ILMN opened at $144.22 on Monday. The business’s 50-day moving average is $140.92 and its 200-day moving average is $132.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of -14.48 and a beta of 1.11. Illumina has a fifty-two week low of $100.08 and a fifty-two week 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 the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. Equities research analysts expect that Illumina will post 4.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Primecap Management Co. CA raised its stake in Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after purchasing an additional 1,118,747 shares during the period. Marshall Wace LLP acquired a new position in shares of Illumina during the second quarter valued at about $77,628,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Illumina by 148.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after buying an additional 631,294 shares during the period. Finally, Janus Henderson Group PLC grew its position in Illumina by 40.5% during the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after buying an additional 625,245 shares in the last quarter. Institutional investors and hedge funds 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.