Illumina (NASDAQ:ILMN) Price Target Raised to $140.00

Illumina (NASDAQ:ILMN) had its price target increased by JPMorgan Chase & Co. from $125.00 to $140.00 in a research report report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the life sciences company’s stock.

Several other brokerages have also recently issued reports on ILMN. StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. Barclays upped their target price on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $252.00 price objective on shares of Illumina in a research report on Thursday, October 10th. Finally, UBS Group raised their target price on shares of Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.18.

Illumina Stock Performance

ILMN opened at $155.15 on Tuesday. 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 has a market capitalization of $24.72 billion, a PE ratio of -15.58 and a beta of 1.13. The business has a fifty day simple moving average of $137.27 and a 200 day simple moving average of $123.12. Illumina has a 1 year low of $89.00 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.33 earnings per share. Illumina’s revenue was down 3.5% compared to the same quarter last year. Research analysts expect that Illumina will post 3.62 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ILMN. Versant Capital Management Inc increased its stake in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in Illumina during the 2nd quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV raised its holdings 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 worth $56,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Illumina in the 2nd quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Illumina in the 2nd quarter valued at $63,000. 89.42% of the stock is owned by institutional investors and hedge funds.

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.