Piper Sandler Issues Positive Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target raised by Piper Sandler from $185.00 to $190.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the life sciences company’s stock.

ILMN has been the topic of a number of other reports. Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and lowered their price target for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. UBS Group raised their target price on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Guggenheim decreased their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. boosted their target price on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Leerink Partners increased their price target on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Illumina has a consensus rating of “Moderate Buy” and an average price target of $160.15.

Illumina Trading Down 5.5 %

Illumina stock opened at $104.99 on Monday. 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 firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of -13.67 and a beta of 1.10. The firm has a 50-day moving average price of $136.70 and a two-hundred day moving average price of $135.56.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. Sell-side analysts expect that Illumina will post 4.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ILMN. Versant Capital Management Inc boosted its position in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Illumina in the fourth quarter worth approximately $32,000. Assetmark Inc. boosted its holdings in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Illumina during the fourth quarter valued at approximately $45,000. Finally, TD Private Client Wealth LLC increased its stake in Illumina by 58.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after buying an additional 141 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.