Illumina (NASDAQ:ILMN) Given New $135.00 Price Target at Barclays

Illumina (NASDAQ:ILMN) had its target price increased by investment analysts at Barclays from $125.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the life sciences company’s stock. Barclays‘s price target would indicate a potential downside of 6.18% from the company’s previous close.

ILMN has been the topic of several other reports. Daiwa America raised Illumina to a “strong-buy” rating in a report on Friday, August 16th. Robert W. Baird lifted their price target on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. Citigroup lifted their price target on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.58.

Illumina Stock Down 2.5 %

Shares of ILMN opened at $143.89 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. Illumina has a 12 month low of $89.00 and a 12 month high of $151.40. The stock’s 50 day moving average is $131.95 and its two-hundred day moving average is $120.95. The firm has a market cap of $22.92 billion, a P/E ratio of -17.66 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.32 earnings per share. Illumina’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts predict that Illumina will post 3.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. Primecap Management Co. CA raised its position in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares during the period. Millennium Management LLC raised its position in Illumina by 305.0% in the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after purchasing an additional 1,118,747 shares during the period. Capital World Investors raised its position in Illumina by 41.1% in the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after purchasing an additional 801,814 shares during the period. Marshall Wace LLP purchased a new stake in Illumina in the second quarter valued at $77,628,000. Finally, Findlay Park Partners LLP purchased a new stake in Illumina in the first quarter valued at $100,120,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.