Barclays Increases Illumina (NASDAQ:ILMN) Price Target to $135.00

Illumina (NASDAQ:ILMN) had its price objective increased by Barclays from $125.00 to $135.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the life sciences company’s stock. Barclays‘s price target points to a potential downside of 6.18% from the company’s current price.

ILMN has been the topic of a number of other research reports. StockNews.com began coverage on Illumina in a research report on Thursday, August 29th. They set a “buy” rating on the stock. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $120.00 to $154.00 in a research report on Friday, August 16th. Piper Sandler dropped their price objective on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Daiwa America upgraded Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Finally, TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and increased their price target for the company from $126.00 to $144.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.58.

Illumina Price Performance

ILMN opened at $143.89 on Tuesday. Illumina has a 12-month low of $89.00 and a 12-month high of $151.40. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The business’s fifty day simple moving average is $131.95 and its 200-day simple moving average is $120.95. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of -17.66 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Illumina will post 3.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ILMN. Envestnet Portfolio Solutions Inc. grew its holdings in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after acquiring an additional 12,521 shares during the period. Findlay Park Partners LLP acquired a new stake in Illumina during the first quarter worth about $100,120,000. Jupiter Asset Management Ltd. acquired a new stake in Illumina during the first quarter worth about $4,527,000. US Bancorp DE grew its holdings in Illumina by 33.9% during the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after acquiring an additional 8,001 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Illumina by 41.4% during the first quarter. BNP Paribas Financial Markets now owns 390,035 shares of the life sciences company’s stock worth $53,560,000 after acquiring an additional 114,263 shares during the period. 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.