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

Illumina (NASDAQ:ILMN - Get Free Report) had its price target boosted by analysts at TD Cowen from $166.00 to $177.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the life sciences company's stock. TD Cowen's target price indicates a potential upside of 14.22% from the company's current price.

Several other research analysts have also recently commented on ILMN. Canaccord Genuity Group raised their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a "hold" rating in a report on Tuesday. Hsbc Global Res upgraded Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 price target for the company in a report on Thursday, October 17th. HSBC raised shares of Illumina from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Illumina from $252.00 to $254.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, UBS Group increased their target price on Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.50.

Illumina Stock Up 1.0 %

Shares of ILMN stock traded up $1.47 during trading hours on Tuesday, hitting $154.96. 3,493,000 shares of the company were exchanged, compared to its average volume of 2,003,682. The business's 50-day simple moving average is $136.87 and its two-hundred day simple moving average is $122.92. Illumina has a one year low of $89.00 and a one year high of $156.66. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of -8.09 and a beta of 1.13. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly 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. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sell-side analysts predict that Illumina will post 3.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of hedge funds and other institutional investors have recently bought and sold shares of ILMN. Envestnet Portfolio Solutions Inc. raised its position in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company's stock valued at $2,123,000 after purchasing an additional 12,521 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Illumina during the first quarter valued at approximately $4,527,000. US Bancorp DE raised its stake in Illumina by 33.9% during the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company's stock valued at $4,339,000 after buying an additional 8,001 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of Illumina in the 1st quarter worth about $610,000. Finally, Weybosset Research & Management LLC raised its holdings in Illumina by 92.0% in the third quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company's stock worth $2,354,000 after buying an additional 8,650 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

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.