Illumina (NASDAQ:ILMN) Price Target Raised to $190.00 at Piper Sandler

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

Other analysts also recently 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 target for the company in a report on Thursday, October 17th. UBS Group raised their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and decreased their price target for the stock from $177.00 to $140.00 in a report on Friday. Stephens lifted their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reduced their target price on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.15.

Illumina Stock Performance

NASDAQ ILMN opened at $104.99 on Monday. 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 has a 1-year low of $100.08 and a 1-year high of $156.66. The firm has a market capitalization of $16.65 billion, a P/E ratio of -13.67 and a beta of 1.10. The business’s 50-day simple moving average is $136.70 and its 200-day simple moving average is $135.56.

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 predict that Illumina will post 4.42 EPS for the current year.

Hedge Funds Weigh In On Illumina

Several large investors have recently added to or reduced their stakes in ILMN. Zacks Investment Management acquired a new stake in shares of Illumina during the third quarter worth $2,924,000. Freemont Management S.A. acquired a new stake in Illumina during the third quarter worth about $1,565,000. Assenagon Asset Management S.A. lifted its holdings in Illumina by 5.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after acquiring an additional 2,338 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in Illumina in the fourth quarter valued at approximately $751,000. Finally, CCLA Investment Management grew its holdings in shares of Illumina by 20.5% during the fourth quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock valued at $71,493,000 after purchasing an additional 91,122 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

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.