Illumina, Inc. (NASDAQ:ILMN) Receives $150.05 Consensus Target Price from Analysts

Illumina, Inc. (NASDAQ:ILMN) has been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $150.58.

Several research analysts recently issued reports on the stock. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup raised their target price on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler decreased their price target on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Scotiabank dropped their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $143.89 on Friday. The firm has a market capitalization of $22.92 billion, a PE ratio of -17.66 and a beta of 1.15. 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 1-year low of $89.00 and a 1-year high of $151.40. The business’s 50 day moving average is $131.95 and its 200-day moving average is $120.95.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts predict that Illumina will post 3.63 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Several large investors have recently made changes to their positions in ILMN. nVerses Capital LLC acquired a new position in Illumina during the 3rd quarter valued at about $65,000. Probity Advisors Inc. bought a new stake in shares of Illumina during the 3rd quarter valued at $239,000. Beech Hill Advisors Inc. lifted its stake in shares of Illumina by 30.2% in the 3rd quarter. Beech Hill Advisors Inc. now owns 7,699 shares of the life sciences company’s stock valued at $1,004,000 after purchasing an additional 1,784 shares during the period. Bourne Lent Asset Management Inc. bought a new position in shares of Illumina in the 3rd quarter worth $239,000. Finally, Hutchens & Kramer Investment Management Group LLC grew its stake in shares of Illumina by 27.5% during the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,135 shares of the life sciences company’s stock worth $404,000 after purchasing an additional 676 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Company Profile

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.