Illumina (NASDAQ:ILMN) Price Target Lowered to $136.00 at Morgan Stanley

Illumina (NASDAQ:ILMN) had its price target decreased by investment analysts at Morgan Stanley from $150.00 to $136.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s target price points to a potential upside of 33.29% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Leerink Partners raised their target price on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup lowered shares of Illumina from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Royal Bank of Canada dropped their target price on Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research report on Friday. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.45.

Illumina Stock Performance

NASDAQ ILMN traded down $2.96 on Tuesday, reaching $102.03. 1,540,315 shares of the stock were exchanged, compared to its average volume of 2,200,355. The firm has a market capitalization of $16.18 billion, a PE ratio of -13.28 and a beta of 1.10. Illumina has a one year low of $100.08 and a one year high of $156.66. The company’s 50-day simple moving average is $135.90 and its two-hundred day simple moving average is $135.48. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last released 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 expect that Illumina will post 4.42 EPS for the current fiscal year.

Institutional Trading of Illumina

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Illumina during the 4th quarter worth approximately $32,000. Assetmark Inc. raised its holdings in shares of Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Illumina in the fourth quarter valued at $45,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Illumina in the fourth quarter valued at $48,000. 89.42% of the stock is currently 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.