Piper Sandler Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Illumina (NASDAQ:ILMN) had its target price increased by Piper Sandler from $185.00 to $190.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the life sciences company’s stock.

A number of other brokerages have also recently issued reports on ILMN. Barclays cut shares of Illumina from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $130.00 to $100.00 in a research report on Monday. Citigroup cut shares of Illumina from a “buy” rating to a “neutral” rating and cut their target price for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Leerink Partners increased their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen downgraded Illumina from a “buy” rating to a “hold” rating and cut their price objective for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Royal Bank of Canada decreased their target price on Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus target price of $159.45.

Illumina Trading Up 2.9 %

ILMN stock opened at $103.57 on Monday. Illumina has a 1-year low of $99.35 and a 1-year high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $135.10 and its 200-day moving average is $135.34. The firm has a market cap of $16.43 billion, a P/E ratio of -13.49 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. Equities analysts anticipate that Illumina will post 4.42 earnings per share for the current fiscal year.

Institutional Trading of Illumina

Several institutional investors and hedge funds have recently made changes to their positions in ILMN. Empowered Funds LLC boosted its position in shares of Illumina by 1.7% in the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after purchasing an additional 66 shares during the last quarter. Bank of Stockton lifted its stake in Illumina by 3.8% in the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after buying an additional 80 shares during the period. Caprock Group LLC boosted its holdings in Illumina by 3.0% during the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after buying an additional 83 shares during the last quarter. Integrated Advisors Network LLC grew its position in shares of Illumina by 2.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after buying an additional 90 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Illumina by 1.4% in the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after acquiring an additional 90 shares during the last quarter. 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.