Stephens Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

by · The Cerbat Gem

Illumina (NASDAQ:ILMN – Free Report) had its price objective raised by Stephens from $170.00 to $184.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the life sciences company’s stock.

Several other research analysts have also recently issued reports on ILMN. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a report on Thursday, October 17th. UBS Group upped their price objective on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Daiwa America upgraded Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler decreased their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Scotiabank dropped their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

View Our Latest Research Report on ILMN

Illumina Stock Down 2.6 %

Shares of ILMN opened at $147.62 on Tuesday. Illumina has a 52 week low of $92.26 and a 52 week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The business’s 50 day moving average price is $138.50 and its 200-day moving average price is $123.77.

Illumina (NASDAQ:ILMN – Get Free Report) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 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 analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, equities analysts predict that Illumina will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Several institutional investors and hedge funds have recently bought and sold shares of ILMN. Empowered Funds LLC raised its stake in shares of Illumina by 1.7% in the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after buying an additional 66 shares during the period. Caprock Group LLC raised its stake in Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after acquiring an additional 83 shares during the period. UMB Bank n.a. lifted its holdings in Illumina by 7.0% during the second quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after purchasing an additional 88 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of Illumina by 2.0% in the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after purchasing an additional 90 shares during the period. Finally, Moors & Cabot Inc. increased its stake in shares of Illumina by 1.7% in the third quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock worth $759,000 after purchasing an additional 95 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile

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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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