Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Illumina (NASDAQ:ILMN) had its price target upped by stock analysts at Royal Bank of Canada from $252.00 to $254.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 67.29% from the company’s current price.

Several other research analysts also recently commented on the company. Canaccord Genuity Group raised their price objective on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday. Scotiabank decreased their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Stephens reiterated an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. Piper Sandler reduced their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Finally, Robert W. Baird upped their target price on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.18.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $151.83 on Tuesday. Illumina has a 12-month low of $89.00 and a 12-month high of $156.66. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of -15.24 and a beta of 1.13. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $137.27 and a 200 day moving average of $123.12.

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, beating 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that Illumina will post 3.62 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Direct Indexing L.P. purchased a new position in Illumina during the first quarter worth $229,000. Norden Group LLC bought a new position in Illumina during the 1st quarter valued at about $584,000. Private Advisor Group LLC raised its position in Illumina by 4.8% in the 1st quarter. Private Advisor Group LLC now owns 4,955 shares of the life sciences company’s stock worth $679,000 after purchasing an additional 226 shares during the period. Janney Montgomery Scott LLC raised its position in Illumina by 41.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company’s stock worth $422,000 after purchasing an additional 900 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Illumina by 5.8% in the first quarter. Nordea Investment Management AB now owns 14,382 shares of the life sciences company’s stock worth $1,981,000 after purchasing an additional 784 shares during the last quarter. 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.