Morgan Stanley Cuts Illumina (NASDAQ:ILMN) Price Target to $136.00

Illumina (NASDAQ:ILMN - Get Free Report) had its price target dropped by equities researchers at Morgan Stanley from $150.00 to $136.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the life sciences company's stock. Morgan Stanley's price objective suggests a potential upside of 35.54% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Illumina from $145.00 to $135.00 and set a "hold" rating on the stock in a report on Friday, February 7th. TD Cowen lowered shares of Illumina from a "buy" rating to a "hold" rating and dropped their target price for the company from $177.00 to $140.00 in a report on Friday, February 7th. Guggenheim dropped their target price on shares of Illumina from $170.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Robert W. Baird lifted their price target on shares of Illumina from $124.00 to $139.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Finally, UBS Group lifted their price target on shares of Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.45.

Illumina Trading Down 1.4 %

Shares of ILMN stock traded down $1.44 during trading hours on Tuesday, hitting $100.34. 2,663,133 shares of the company's stock traded hands, compared to its average volume of 2,371,511. The stock's 50 day simple moving average is $133.56 and its 200 day simple moving average is $134.88. The stock has a market cap of $15.91 billion, a PE ratio of -13.07 and a beta of 1.10. Illumina has a 12 month low of $99.35 and a 12 month high of $156.66. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. On average, sell-side analysts anticipate that Illumina will post 4.42 EPS for the current year.

Institutional Investors Weigh In On Illumina

A number of institutional investors have recently added to or reduced their stakes in ILMN. CWM LLC grew its position in Illumina by 179.8% in the 3rd quarter. CWM LLC now owns 16,207 shares of the life sciences company's stock worth $2,114,000 after purchasing an additional 10,414 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Illumina by 323.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,047 shares of the life sciences company's stock worth $136,000 after purchasing an additional 800 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in Illumina in the 3rd quarter worth about $276,000. Procyon Advisors LLC grew its position in Illumina by 24.5% in the 3rd quarter. Procyon Advisors LLC now owns 14,134 shares of the life sciences company's stock worth $1,843,000 after purchasing an additional 2,778 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Illumina in the 3rd quarter worth about $235,000. 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.