JPMorgan Chase & Co. Increases Illumina (NASDAQ:ILMN) Price Target to $140.00

Illumina (NASDAQ:ILMN) had its target price hoisted by JPMorgan Chase & Co. from $125.00 to $140.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the life sciences company’s stock.

Other equities analysts have also recently issued reports about the company. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and increased their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and issued a $252.00 target price on shares of Illumina in a report on Thursday, October 10th. Scotiabank cut their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Finally, Leerink Partners increased their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.18.

Illumina Stock Up 2.2 %

Illumina stock opened at $155.15 on Tuesday. The company has a market capitalization of $24.72 billion, a PE ratio of -15.58 and a beta of 1.13. Illumina has a 12-month low of $89.00 and a 12-month high of $156.66. The firm’s fifty day moving average is $137.27 and its 200 day moving average is $123.12. 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 (NASDAQ:ILMN) last released its quarterly earnings data 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. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts predict that Illumina will post 3.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several large investors have recently modified their holdings of ILMN. Empowered Funds LLC grew its stake in Illumina by 1.7% in the 3rd 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 in the last quarter. Caprock Group LLC lifted its holdings in Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after purchasing an additional 83 shares in the last quarter. UMB Bank n.a. boosted its stake in Illumina by 7.0% in the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock worth $140,000 after purchasing an additional 88 shares during the period. Integrated Advisors Network LLC grew its holdings in Illumina by 2.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after buying an additional 90 shares in the last quarter. Finally, Carson Advisory Inc. increased its position in shares of Illumina by 3.8% during the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company’s stock valued at $360,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

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.