Illumina (NASDAQ:ILMN) Price Target Raised to $99.00

Illumina (NASDAQ:ILMN) had its price objective upped by investment analysts at Canaccord Genuity Group from $87.00 to $99.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 12.33% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ILMN. JPMorgan Chase & Co. cut their price target on Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Morgan Stanley dropped their price objective on Illumina from $136.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Royal Bank of Canada decreased their target price on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird lowered their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, Citigroup dropped their price target on Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average price target of $126.94.

Illumina Price Performance

NASDAQ ILMN opened at $88.13 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina has a 12 month low of $68.70 and a 12 month high of $156.66. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of -11.48, a PEG ratio of 1.60 and a beta of 1.32. The company’s 50 day moving average is $78.75 and its two-hundred day moving average is $103.31.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that Illumina will post 4.51 earnings per share for the current year.

Insider Activity

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Rise Advisors LLC raised its position in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 224 shares during the period. Rakuten Securities Inc. lifted its position in Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock worth $29,000 after buying an additional 270 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Illumina during the fourth quarter worth $32,000. Center for Financial Planning Inc. purchased a new position in Illumina during the first quarter worth $33,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Illumina in the fourth quarter valued at $40,000. 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.