Illumina (NASDAQ:ILMN) Price Target Cut to $115.00 by Analysts at Canaccord Genuity Group

Illumina (NASDAQ:ILMN - Get Free Report) had its target price dropped by analysts at Canaccord Genuity Group from $135.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the life sciences company's stock. Canaccord Genuity Group's target price suggests a potential upside of 33.77% from the company's previous close.

Other analysts also recently issued research reports about the company. Hsbc Global Res downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Stephens boosted their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Robert W. Baird decreased their target price on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley reduced their price objective on Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Finally, Piper Sandler boosted their target price on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $148.25.

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Illumina Price Performance

Shares of NASDAQ:ILMN opened at $85.97 on Tuesday. The company's fifty day moving average price is $117.43 and its 200-day moving average price is $131.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of -11.19, a PEG ratio of 1.60 and a beta of 1.17. Illumina has a one year low of $80.18 and a one year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, equities research analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

A number of institutional investors have recently bought and sold shares of ILMN. Golden State Wealth Management LLC bought a new stake in Illumina during the 4th quarter valued at approximately $32,000. Versant Capital Management Inc lifted its stake in shares of Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock valued at $32,000 after purchasing an additional 146 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of Illumina during the fourth quarter valued at approximately $40,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Illumina in the fourth quarter worth $45,000. Finally, Assetmark Inc. raised its holdings in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after purchasing an additional 296 shares in the last quarter. 89.42% of the stock is owned by 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.

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