Leerink Partners Raises Illumina (NASDAQ:ILMN) Price Target to $200.00

Illumina (NASDAQ:ILMN) had its target price raised by investment analysts at Leerink Partners from $160.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the life sciences company’s stock. Leerink Partners’ target price would indicate a potential upside of 38.91% from the company’s previous close.

ILMN has been the topic of several other research reports. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Illumina in a report on Wednesday, July 10th. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Wednesday, August 28th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. StockNews.com started coverage on shares of Illumina in a research note on Thursday, August 29th. They set a “buy” rating on the stock. Finally, TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and increased their target price for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.33.

Illumina Price Performance

Shares of NASDAQ ILMN traded up $0.09 during midday trading on Thursday, reaching $143.98. The company’s stock had a trading volume of 427,214 shares, compared to its average volume of 2,022,390. Illumina has a one year low of $89.00 and a one year high of $151.40. The company has a market cap of $22.94 billion, a price-to-earnings ratio of -17.67 and a beta of 1.15. The company has a 50 day moving average price of $131.95 and a 200 day moving average price of $120.95. 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 (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, equities research analysts expect that Illumina will post 3.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Illumina by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after purchasing an additional 66,528 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after buying an additional 460,649 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Illumina by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after acquiring an additional 204,043 shares in the last quarter. Capital World Investors increased its holdings in shares of Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after acquiring an additional 801,814 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of 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 valued at $253,514,000 after acquiring an additional 1,997,010 shares in the last quarter. Institutional investors and hedge funds 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.