Illumina (NASDAQ:ILMN) Price Target Cut to $185.00 by Analysts at Piper Sandler

Illumina (NASDAQ:ILMN) had its target price trimmed by Piper Sandler from $195.00 to $185.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the life sciences company’s stock.

Several other research firms also recently issued reports on ILMN. Canaccord Genuity Group boosted their price objective on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Thursday, October 17th. StockNews.com initiated coverage on Illumina in a research note on Thursday, August 29th. They set a “buy” rating on the stock. Royal Bank of Canada increased their target price on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.00.

Illumina Stock Down 2.7 %

Shares of NASDAQ ILMN opened at $142.24 on Monday. The stock has a market capitalization of $22.56 billion, a PE ratio of -14.28 and a beta of 1.13. 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 fifty day moving average of $139.20 and a 200-day moving average of $124.10. Illumina has a 52-week low of $92.69 and a 52-week high of $156.66.

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, beating analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, analysts anticipate that Illumina will post 4.11 EPS for the current year.

Institutional Trading of Illumina

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its stake in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV boosted its position in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Illumina in the second quarter valued at about $61,000. Finally, Private Trust Co. NA grew its stake in Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after purchasing an additional 212 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.