Illumina (NASDAQ:ILMN) Given New $128.00 Price Target at Royal Bank of Canada

Illumina (NASDAQ:ILMN) had its price objective lowered by Royal Bank of Canada from $247.00 to $128.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the life sciences company’s stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird dropped their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Canaccord Genuity Group decreased their price objective on Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday. Citigroup decreased their price objective on Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley decreased their price objective on Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Finally, Stephens restated an “overweight” rating and set a $156.00 price objective on shares of Illumina in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illumina has an average rating of “Moderate Buy” and an average target price of $140.90.

Illumina Price Performance

ILMN opened at $84.20 on Wednesday. Illumina has a 12-month low of $80.18 and a 12-month high of $156.66. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $115.46 and its 200-day simple moving average is $130.52. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of -10.96, a PEG ratio of 1.60 and a beta of 1.17.

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 positive return on equity of 13.37% and a negative net margin of 27.95%. On average, equities research analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Probity Advisors Inc. raised its stake in shares of Illumina by 12.2% in the fourth quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company’s stock worth $274,000 after purchasing an additional 224 shares during the last quarter. Siemens Fonds Invest GmbH raised its stake in shares of Illumina by 84.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 6,119 shares of the life sciences company’s stock worth $818,000 after purchasing an additional 2,807 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Illumina in the fourth quarter worth about $29,913,000. Mackenzie Financial Corp raised its stake in shares of Illumina by 9.5% in the fourth quarter. Mackenzie Financial Corp now owns 21,194 shares of the life sciences company’s stock worth $2,832,000 after purchasing an additional 1,839 shares during the last quarter. Finally, North Star Asset Management Inc. raised its stake in shares of Illumina by 6.4% in the fourth quarter. North Star Asset Management Inc. now owns 85,604 shares of the life sciences company’s stock worth $11,439,000 after purchasing an additional 5,160 shares during the last quarter. 89.42% of the stock is currently 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.