Illumina (NASDAQ:ILMN) Releases Quarterly Earnings Results

Illumina (NASDAQ:ILMN) announced its earnings results on Monday. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26, Briefing.com reports. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS.

Illumina Trading Down 1.9 %

ILMN stock traded down $2.99 during trading on Wednesday, reaching $151.97. The company had a trading volume of 197,732 shares, compared to its average volume of 1,995,283. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. Illumina has a 52 week low of $89.00 and a 52 week high of $156.66. The business has a 50 day moving average of $136.87 and a 200 day moving average of $122.92. The company has a market cap of $24.21 billion, a P/E ratio of -15.56 and a beta of 1.13.

Analysts Set New Price Targets

A number of research firms have recently commented on ILMN. Royal Bank of Canada lifted their target price on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday. Leerink Partners lifted their price objective on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Thursday, October 17th. Citigroup lifted their price target on shares of Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity Group upped their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.18.

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.