Illumina (NASDAQ:ILMN) Price Target Raised to $145.00 at Barclays

Illumina (NASDAQ:ILMN) had its target price increased by stock analysts at Barclays from $135.00 to $145.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the life sciences company’s stock. Barclays‘s target price suggests a potential downside of 6.26% from the stock’s current price.

A number of other analysts have also recently weighed in on ILMN. Citigroup increased their price objective on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group increased their price objective on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. UBS Group increased their price objective on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, August 28th. One equities research 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.09.

Illumina Stock Performance

NASDAQ:ILMN traded up $1.20 during mid-day trading on Tuesday, reaching $154.69. 533,194 shares of the stock were exchanged, compared to its average volume of 1,988,961. The company has a 50 day simple moving average of $136.39 and a 200-day simple moving average of $122.65. The stock has a market capitalization of $24.64 billion, a P/E ratio of -7.86 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. Illumina has a 1 year low of $89.00 and a 1 year high of $155.37.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. Analysts anticipate that Illumina will post 3.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several hedge funds have recently bought and sold shares of ILMN. Primecap Management Co. CA increased its position in Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares in the last quarter. Millennium Management LLC increased its position in Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after buying an additional 1,118,747 shares in the last quarter. Capital World Investors increased its position in Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after buying an additional 801,814 shares in the last quarter. Marshall Wace LLP purchased a new position in Illumina during the second quarter worth $77,628,000. Finally, Swedbank AB purchased a new position in Illumina during the first quarter worth $99,682,000. Hedge funds and other institutional investors 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.