Illumina (NASDAQ:ILMN) Price Target Raised to $190.00 at Citigroup

Illumina (NASDAQ:ILMN) had its target price hoisted by Citigroup from $155.00 to $190.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the life sciences company’s stock.

ILMN has been the topic of a number of other reports. StockNews.com began coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a “buy” rating on the stock. Barclays increased their price target on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday. Canaccord Genuity Group raised their price objective on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Wednesday, August 28th. Finally, Stephens reiterated an “overweight” rating and set a $170.00 target price on shares of Illumina in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $161.50.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $154.96 on Tuesday. The firm has a market capitalization of $24.69 billion, a price-to-earnings ratio of -15.56 and a beta of 1.13. 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 business’s 50 day simple moving average is $136.87 and its 200-day simple moving average is $122.92. Illumina has a 12 month low of $89.00 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina’s revenue 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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Illumina by 292.9% during 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 in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Illumina during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV boosted its holdings in 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 purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Illumina during the second quarter worth $61,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Illumina during the second quarter worth about $63,000. 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.