Citigroup Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Illumina (NASDAQ:ILMN) had its price target hoisted by Citigroup from $155.00 to $190.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the life sciences company’s stock. Citigroup’s price objective points to a potential upside of 25.14% from the company’s current price.

ILMN has been the subject of several other reports. Leerink Partners upped their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and raised their price target for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Canaccord Genuity Group upped their price objective on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Hsbc Global Res upgraded shares of 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and a consensus target price of $162.18.

Illumina Trading Down 2.0 %

ILMN stock opened at $151.83 on Tuesday. Illumina has a 52 week low of $89.00 and a 52 week high of $156.66. The business has a 50-day simple moving average of $137.27 and a 200 day simple moving average of $123.12. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts predict that Illumina will post 3.62 EPS for the current fiscal year.

Institutional Trading of Illumina

Institutional investors have recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Illumina in the 3rd quarter valued at about $257,000. Empowered Funds LLC lifted its stake in Illumina by 1.7% in the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after buying an additional 66 shares during the period. Intellectus Partners LLC boosted its holdings in shares of Illumina by 14.3% during the 3rd quarter. Intellectus Partners LLC now owns 15,440 shares of the life sciences company’s stock worth $2,014,000 after buying an additional 1,935 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Illumina by 923.6% during the 3rd quarter. Impax Asset Management Group plc now owns 63,973 shares of the life sciences company’s stock worth $8,343,000 after buying an additional 57,723 shares during the period. Finally, ING Groep NV increased its stake in shares of Illumina by 399.9% in the 3rd quarter. ING Groep NV now owns 72,221 shares of the life sciences company’s stock valued at $9,418,000 after acquiring an additional 57,774 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

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.