UBS Group Issues Positive Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price raised by research analysts at UBS Group from $133.00 to $145.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the life sciences company’s stock. UBS Group’s price objective would indicate a potential downside of 4.89% from the stock’s previous close.

ILMN has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank decreased their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Piper Sandler decreased their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. StockNews.com initiated coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a “buy” rating on the stock. Finally, Robert W. Baird increased their target price on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.00.

Illumina Stock Performance

Shares of ILMN stock traded down $1.03 on Tuesday, reaching $152.46. The stock had a trading volume of 1,686,160 shares, compared to its average volume of 1,995,016. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The firm’s 50-day moving average is $136.39 and its two-hundred day moving average is $122.65. The firm has a market capitalization of $24.29 billion, a price-to-earnings ratio of -7.96 and a beta of 1.13. Illumina has a 12 month low of $89.00 and a 12 month high of $155.37.

Illumina (NASDAQ:ILMN) last issued its 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 negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.33 EPS. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts expect that Illumina will post 3.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

A number of hedge funds have recently bought and sold shares of ILMN. Versant Capital Management Inc raised its stake in Illumina by 292.9% during the second 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 during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Illumina during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV raised its stake in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina during the second quarter worth $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Illumina during the second quarter worth $63,000. Institutional investors 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.