Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, TD Cowen Analyst Says

Illumina (NASDAQ:ILMN) had its price target hoisted by analysts at TD Cowen from $166.00 to $177.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the life sciences company’s stock. TD Cowen’s price target suggests a potential upside of 15.02% from the company’s current price.

ILMN has been the subject of a number of other research reports. Hsbc Global Res upgraded 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 report on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday. Daiwa America upgraded Illumina to a “strong-buy” rating in a research report on Friday, August 16th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Finally, Citigroup lifted their target price on shares of Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.50.

Illumina Stock Performance

Illumina stock traded up $0.39 during mid-day trading on Tuesday, reaching $153.88. The company’s stock had a trading volume of 1,805,383 shares, compared to its average volume of 1,995,797. 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 twelve month low of $89.00 and a twelve month high of $155.37. The business has a 50 day moving average price of $136.39 and a 200-day moving average price of $122.65. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of -8.04 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts predict that Illumina will post 3.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Illumina during the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its position in shares of Illumina by 65.1% in 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. bought a new position in shares of Illumina in the second quarter worth about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Illumina in the second quarter worth about $63,000. 89.42% of the stock is 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.