Barclays Issues Pessimistic Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price reduced by equities research analysts at Barclays from $145.00 to $130.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the life sciences company’s stock. Barclays‘s target price would indicate a potential upside of 4.67% from the company’s current price.

Several other equities analysts also recently weighed in on ILMN. Robert W. Baird lifted their price target on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada upped their price objective on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.84.

Illumina Trading Down 5.3 %

Illumina stock opened at $124.20 on Monday. The business has a 50-day simple moving average of $138.57 and a two-hundred day simple moving average of $135.43. Illumina has a 52-week low of $100.08 and a 52-week high of $156.66. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The company has a market cap of $19.70 billion, a P/E ratio of -12.47 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last announced its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. Analysts predict that Illumina will post 4.13 EPS for the current year.

Hedge Funds Weigh In On Illumina

Several large investors have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Illumina by 3.4% during the second quarter. Creative Planning now owns 16,144 shares of the life sciences company’s stock worth $1,685,000 after buying an additional 525 shares during the period. Truist Financial Corp increased its holdings in Illumina by 1.7% during the 2nd quarter. Truist Financial Corp now owns 62,840 shares of the life sciences company’s stock worth $6,559,000 after purchasing an additional 1,075 shares during the period. Cetera Investment Advisers boosted its stake in shares of Illumina by 25.8% in the 2nd quarter. Cetera Investment Advisers now owns 18,384 shares of the life sciences company’s stock valued at $1,919,000 after buying an additional 3,767 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Illumina during the second quarter worth about $2,331,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Illumina by 403.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,626 shares of the life sciences company’s stock worth $1,527,000 after buying an additional 11,718 shares during the period. 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.