Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Citigroup Analyst Says

Illumina (NASDAQ:ILMN) had its price target boosted by equities research analysts at Citigroup from $155.00 to $190.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the life sciences company’s stock. Citigroup’s price target suggests a potential upside of 25.14% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Argus raised shares of 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. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. Canaccord Genuity Group lifted their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Daiwa America raised Illumina to a “strong-buy” rating in a report on Friday, August 16th. 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $162.18.

Illumina Trading Down 2.0 %

Shares of NASDAQ:ILMN opened at $151.83 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. Illumina has a 52-week low of $89.00 and a 52-week high of $156.66. The business’s 50 day simple moving average is $137.27 and its two-hundred day simple moving average is $123.12.

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. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, equities analysts forecast that Illumina will post 3.62 EPS for the current year.

Institutional Investors Weigh In On Illumina

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