Piper Sandler Lowers Illumina (NASDAQ:ILMN) Price Target to $185.00

Illumina (NASDAQ:ILMN - Get Free Report) had its target price decreased by equities research analysts at Piper Sandler from $195.00 to $185.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the life sciences company's stock. Piper Sandler's target price would indicate a potential upside of 22.06% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group increased 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, November 5th. Hsbc Global Res raised Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. StockNews.com initiated coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a "buy" rating for the company. Barclays raised their price target on shares of Illumina from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Finally, Daiwa Capital Markets raised Illumina from a "neutral" rating to a "buy" rating and lifted their target price for the company from $120.00 to $154.00 in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.71.

Illumina Stock Up 0.3 %

NASDAQ:ILMN traded up $0.48 during mid-day trading on Monday, hitting $151.57. 910,854 shares of the company's stock were exchanged, compared to its average volume of 2,004,155. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 0.86. The business has a fifty day moving average price of $138.09 and a 200 day moving average price of $123.55. Illumina has a one year low of $92.26 and a one year high of $156.66. The company has a market cap of $24.04 billion, a PE ratio of -15.16 and a beta of 1.13.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Equities analysts predict that Illumina will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Illumina

A number of large investors have recently modified their holdings of the business. Versant Capital Management Inc increased its holdings in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company's stock valued at $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Illumina during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV boosted its position in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock worth $56,000 after purchasing an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Illumina in the second quarter valued at $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Illumina in the second quarter valued at $63,000. 89.42% of the stock is owned by hedge funds and other 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.