TD Cowen Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Illumina (NASDAQ:ILMN) had its price target hoisted by TD Cowen from $166.00 to $177.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the life sciences company’s stock.

A number of other research analysts have also weighed in on ILMN. Scotiabank reduced their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Barclays upped their target price on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday. Leerink Partners raised their price target on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Finally, Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina has an average rating of “Moderate Buy” and a consensus price target of $161.50.

Illumina Stock Performance

Shares of ILMN opened at $154.96 on Tuesday. Illumina has a 1 year low of $89.00 and a 1 year high of $156.66. 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 stock’s fifty day moving average price is $136.87 and its two-hundred day moving average price is $122.92. The firm has a market cap of $24.69 billion, a PE ratio of -15.56 and a beta of 1.13.

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

Hedge Funds Weigh In On Illumina

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Illumina by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after purchasing an additional 66,528 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Illumina by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after acquiring an additional 204,043 shares during the period. Capital World Investors increased its position in shares of Illumina by 41.1% in the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after acquiring an additional 801,814 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after purchasing an additional 1,997,010 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd grew its stake in shares of Illumina by 1.1% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,068,869 shares of the life sciences company’s stock worth $284,097,000 after purchasing an additional 22,067 shares during the last quarter. 89.42% of the stock is 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.