Piper Sandler Issues Pessimistic Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price lowered by equities research analysts at Piper Sandler from $195.00 to $185.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the life sciences company’s stock. Piper Sandler’s price target indicates a potential upside of 25.32% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Leerink Partners upped their target price on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Scotiabank reduced their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Citigroup lifted their price objective on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Stock Down 2.6 %

ILMN stock opened at $147.62 on Monday. Illumina has a fifty-two week low of $92.26 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 0.86. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of -15.21 and a beta of 1.13. The business’s fifty day moving average price is $138.50 and its two-hundred day moving average price is $123.77.

Illumina (NASDAQ:ILMN) last announced 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. 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 36.10% and a positive return on equity of 7.29%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. On average, equities analysts anticipate that Illumina will post 4.11 earnings per share for the current year.

Institutional Trading of Illumina

Large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its holdings in Illumina by 462.5% in the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after acquiring an additional 1,997,010 shares during the last quarter. Millennium Management LLC increased its stake in Illumina by 305.0% in the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares during the last quarter. Capital World Investors raised its stake in 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 purchasing an additional 801,814 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Illumina during the 2nd quarter valued at $77,628,000. Finally, Swedbank AB bought a new stake in Illumina during the first quarter worth about $99,682,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.