Canaccord Genuity Group Cuts Illumina (NASDAQ:ILMN) Price Target to $135.00

Illumina (NASDAQ:ILMN) had its target price decreased by Canaccord Genuity Group from $145.00 to $135.00 in a research report sent to investors on Friday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the life sciences company’s stock.

Other research analysts have also issued reports about the company. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Stephens increased their price objective on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Morgan Stanley dropped their price objective on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Robert W. Baird increased their price objective on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

Illumina Stock Down 9.6 %

Shares of ILMN stock opened at $111.06 on Friday. The stock has a market cap of $17.61 billion, a P/E ratio of -14.46 and a beta of 1.10. Illumina has a one year low of $100.08 and a one year high of $156.66. The stock has a fifty day moving average price of $136.70 and a 200 day moving average price of $135.43. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in shares of Illumina by 1.7% during the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after acquiring an additional 66 shares during the last quarter. Bank of Stockton increased its holdings in shares of Illumina by 3.8% during the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after acquiring an additional 80 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after acquiring an additional 83 shares during the last quarter. Integrated Advisors Network LLC increased its holdings 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 acquiring an additional 90 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock worth $885,000 after acquiring an additional 90 shares during 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.