Illumina (NASDAQ:ILMN) Price Target Raised to $135.00

Illumina (NASDAQ:ILMN) had its price objective hoisted by Barclays from $125.00 to $135.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the life sciences company’s stock.

Other research analysts have also issued reports about the stock. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and upped their target price for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and increased their price objective for the company from $126.00 to $144.00 in a research report on Wednesday, August 14th. Citigroup raised their price objective on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. Finally, Piper Sandler lowered their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.33.

Illumina Stock Performance

NASDAQ:ILMN opened at $143.52 on Tuesday. Illumina has a 52-week low of $89.00 and a 52-week high of $151.40. The business’s fifty day moving average is $132.28 and its 200 day moving average is $121.11. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of -17.61 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. The firm 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 company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Research analysts predict that Illumina will post 3.63 EPS for the current year.

Institutional Investors Weigh In On Illumina

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 buying an additional 66,528 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Illumina by 8.7% during the 1st quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after acquiring an additional 460,649 shares during the period. Bank of New York Mellon Corp raised its position in shares of Illumina by 7.2% in 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 raised its position in shares of Illumina by 41.1% in the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after acquiring an additional 801,814 shares in the last quarter. Finally, Primecap Management Co. CA lifted 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 purchasing an additional 1,997,010 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.