Illumina (NASDAQ:ILMN) Given New $177.00 Price Target at TD Cowen

Illumina (NASDAQ:ILMN) had its price target upped by investment analysts at TD Cowen from $166.00 to $177.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the life sciences company’s stock. TD Cowen’s price objective would indicate a potential upside of 16.58% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Leerink Partners increased their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Canaccord Genuity Group raised their price target on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday. Piper Sandler reduced their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Stephens reaffirmed an “overweight” rating and set a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. Finally, Hsbc Global Res raised 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 note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and a consensus target price of $162.18.

Illumina Stock Performance

NASDAQ:ILMN opened at $151.83 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. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $156.66. The business has a 50 day moving average price of $137.27 and a 200-day moving average price of $123.12.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. Equities analysts forecast that Illumina will post 3.62 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

A number of hedge funds have recently added to or reduced their stakes in ILMN. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Illumina in the 3rd quarter worth $257,000. Empowered Funds LLC boosted its position in shares of Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after buying an additional 66 shares during the last quarter. Intellectus Partners LLC boosted its position in shares of Illumina by 14.3% during the third quarter. Intellectus Partners LLC now owns 15,440 shares of the life sciences company’s stock valued at $2,014,000 after buying an additional 1,935 shares during the last quarter. Impax Asset Management Group plc increased its holdings in Illumina by 923.6% in the 3rd quarter. Impax Asset Management Group plc now owns 63,973 shares of the life sciences company’s stock worth $8,343,000 after buying an additional 57,723 shares in the last quarter. Finally, ING Groep NV raised its position in Illumina by 399.9% in the 3rd quarter. ING Groep NV now owns 72,221 shares of the life sciences company’s stock worth $9,418,000 after buying an additional 57,774 shares during the last quarter. 89.42% of the stock is currently 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.