Illumina (NASDAQ:ILMN) Given New $247.00 Price Target at Royal Bank of Canada

Illumina (NASDAQ:ILMN) had its price objective lowered by research analysts at Royal Bank of Canada from $250.00 to $247.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 122.66% from the company’s current price.

A number of other research analysts also recently commented on the company. TD Cowen downgraded Illumina from a “buy” rating to a “hold” rating and dropped their price objective for the company from $177.00 to $140.00 in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their price objective on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group cut their price target on Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Illumina Trading Down 9.7 %

NASDAQ ILMN traded down $11.87 during trading on Friday, hitting $110.93. The stock had a trading volume of 4,263,237 shares, compared to its average volume of 1,928,006. 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 company has a market capitalization of $17.59 billion, a PE ratio of -11.19 and a beta of 1.10. The firm has a 50 day moving average price of $137.37 and a 200 day moving average price of $135.34. Illumina has a twelve month low of $100.08 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly 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 negative net margin of 36.10% and a positive return on equity of 7.29%. As a group, equities research analysts forecast that Illumina will post 4.13 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Several hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Illumina by 148.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 189,924 shares of the life sciences company’s stock valued at $25,380,000 after purchasing an additional 113,345 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in Illumina by 9.2% during the 4th quarter. Personal CFO Solutions LLC now owns 1,789 shares of the life sciences company’s stock valued at $239,000 after buying an additional 150 shares during the last quarter. NS Partners Ltd increased its position in Illumina by 44.4% during the fourth quarter. NS Partners Ltd now owns 53,566 shares of the life sciences company’s stock worth $7,158,000 after buying an additional 16,463 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Illumina in the 4th quarter valued at about $601,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Illumina during the fourth quarter valued at approximately $45,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.