Illumina (NASDAQ:ILMN) Given New $115.00 Price Target at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its price target reduced by Canaccord Genuity Group from $135.00 to $115.00 in a research report released on Tuesday,Benzinga reports. They currently have a hold rating on the life sciences company’s stock.

Several other brokerages have also commented on ILMN. HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Friday, February 28th. Stephens boosted their price target on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Barclays lowered Illumina from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $130.00 to $100.00 in a research note on Monday, February 10th. Piper Sandler boosted their price target on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, TD Cowen lowered 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 research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.85.

Illumina Price Performance

Shares of ILMN opened at $84.52 on Tuesday. Illumina has a twelve month low of $80.18 and a twelve month high of $156.66. The stock’s 50 day moving average is $116.45 and its two-hundred day moving average is $130.84. The firm has a market capitalization of $13.39 billion, a PE ratio of -11.01, a P/E/G ratio of 1.60 and a beta of 1.17. 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 (NASDAQ:ILMN) last announced its quarterly earnings data 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 13.37%. Research analysts anticipate that Illumina will post 4.51 earnings per share for the current year.

Institutional Trading of Illumina

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in Illumina by 1.7% in the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after purchasing an additional 66 shares in the last quarter. Bank of Stockton increased its holdings in Illumina by 3.8% in the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after purchasing an additional 80 shares in the last quarter. Caprock Group LLC increased its holdings in Illumina by 3.0% in the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock valued at $376,000 after purchasing an additional 83 shares in the last quarter. Stephens Inc. AR increased its holdings in Illumina by 1.4% in the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after purchasing an additional 90 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in Illumina by 1.7% in the 3rd quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock valued at $759,000 after purchasing an additional 95 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.