Illumina (NASDAQ:ILMN) Price Target Cut to $135.00 by Analysts at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its price objective decreased by Canaccord Genuity Group from $145.00 to $135.00 in a research report sent to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the life sciences company’s stock.

Other analysts have also issued reports about the company. Piper Sandler dropped their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Robert W. Baird upped their price target on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. 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 report on Thursday, October 17th. Stephens boosted their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, UBS Group raised their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and an average target price of $161.40.

Illumina Stock Performance

Shares of NASDAQ:ILMN opened at $111.06 on Friday. The company has a 50 day moving average of $137.37 and a two-hundred day moving average of $135.34. Illumina has a 52-week low of $100.08 and a 52-week 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) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share 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 12.59%. Sell-side analysts predict that Illumina will post 4.42 EPS for the current fiscal year.

Institutional Trading of Illumina

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its position in Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after buying an additional 66 shares during the period. Bank of Stockton lifted its position in shares of Illumina by 3.8% in the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after purchasing an additional 80 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of Illumina by 3.0% during the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after purchasing an additional 83 shares during the period. Integrated Advisors Network LLC grew its position in Illumina by 2.0% during the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after purchasing an additional 90 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Illumina by 1.4% in the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.