Illumina (NASDAQ:ILMN) Given New $177.00 Price Target at TD Cowen

Illumina (NASDAQ:ILMN) had its price objective boosted by TD Cowen from $166.00 to $177.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the life sciences company’s stock. TD Cowen’s price target indicates a potential upside of 15.02% from the stock’s previous close.

Several other research firms also recently issued reports on ILMN. JPMorgan Chase & Co. lifted their price target on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group increased their price target on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Illumina has an average rating of “Moderate Buy” and an average price target of $161.50.

Illumina Stock Performance

Shares of ILMN stock traded up $0.39 during trading hours on Tuesday, reaching $153.88. 1,805,383 shares of the company’s stock were exchanged, compared to its average volume of 1,995,797. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company’s 50 day moving average is $136.39 and its two-hundred day moving average is $122.65. The company has a market cap of $24.51 billion, a P/E ratio of -8.04 and a beta of 1.13. Illumina has a 1 year low of $89.00 and a 1 year high of $155.37.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.33 earnings per share. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities research analysts anticipate that Illumina will post 3.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ILMN. Versant Capital Management Inc lifted its holdings in Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Illumina in the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its stake in Illumina by 65.1% during 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. Itau Unibanco Holding S.A. acquired a new position in shares of Illumina in the 2nd quarter valued at approximately $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Illumina during the 2nd quarter valued at $63,000. 89.42% of the stock is currently 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.