Illumina, Inc. (NASDAQ:ILMN) Receives $161.50 Average Target Price from Brokerages

Illumina, Inc. (NASDAQ:ILMN) has been given an average recommendation of “Moderate Buy” by the twenty-four ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $162.18.

A number of research firms recently issued reports on ILMN. UBS Group increased their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays boosted their price target on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday. TD Cowen upped their price objective on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and upped their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th.

Illumina Stock Performance

NASDAQ:ILMN opened at $151.09 on Wednesday. The firm has a market capitalization of $24.07 billion, a PE ratio of -15.17 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. Illumina has a twelve month low of $89.00 and a twelve month high of $156.66. The stock’s 50-day simple moving average is $138.09 and its 200 day simple moving average is $123.56.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping 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 last year, the company earned $0.33 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, analysts anticipate that Illumina will post 3.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several hedge funds have recently made changes to their positions in ILMN. Versant Capital Management Inc grew its stake in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the 2nd quarter worth about $34,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after acquiring an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Illumina during the 2nd quarter valued at about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Illumina during the second quarter worth about $63,000. 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.