Illumina (NASDAQ:ILMN) Price Target Cut to $136.00 by Analysts at Morgan Stanley

Illumina (NASDAQ:ILMN) had its price target trimmed by Morgan Stanley from $150.00 to $136.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the life sciences company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Citigroup downgraded shares of Illumina from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $190.00 to $165.00 in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their price target on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Finally, Leerink Partners boosted their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.45.

Illumina Price Performance

Shares of ILMN stock opened at $101.78 on Tuesday. Illumina has a 1 year low of $99.35 and a 1 year high of $156.66. The firm’s 50 day moving average is $134.32 and its 200-day moving average is $135.12. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of -13.25 and a beta of 1.10. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that Illumina will post 4.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Illumina by 5.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 279,836 shares of the life sciences company’s stock valued at $37,382,000 after buying an additional 13,563 shares during the period. Farringdon Capital Ltd. acquired a new position in shares of Illumina in the fourth quarter valued at approximately $206,000. Zacks Investment Management boosted its holdings in shares of Illumina by 3.5% in the fourth quarter. Zacks Investment Management now owns 23,210 shares of the life sciences company’s stock valued at $3,102,000 after buying an additional 786 shares during the period. Jump Financial LLC boosted its holdings in shares of Illumina by 260.0% in the fourth quarter. Jump Financial LLC now owns 7,865 shares of the life sciences company’s stock valued at $1,051,000 after buying an additional 5,680 shares during the period. Finally, Senvest Management LLC boosted its holdings in shares of Illumina by 19.5% in the fourth quarter. Senvest Management LLC now owns 1,070,292 shares of the life sciences company’s stock valued at $143,023,000 after buying an additional 174,532 shares during the period. Institutional investors and hedge funds 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.