Illumina (NASDAQ:ILMN) Price Target Lowered to $77.00 at Barclays

Illumina (NASDAQ:ILMN) had its price target decreased by Barclays from $100.00 to $77.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an underweight rating on the life sciences company’s stock.

Several other research firms have also issued reports on ILMN. Canaccord Genuity Group lowered their target price on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Guggenheim lowered their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Piper Sandler increased their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Friday, February 28th. Finally, Morgan Stanley cut their price objective on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.70.

Illumina Price Performance

ILMN opened at $71.26 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $11.29 billion, a price-to-earnings ratio of -9.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The stock has a fifty day simple moving average of $89.57 and a two-hundred day simple moving average of $122.68. Illumina has a 12-month low of $68.70 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last issued 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 positive return on equity of 13.37% and a negative net margin of 27.95%. Research analysts predict that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Trading of Illumina

A number of hedge funds have recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares during the period. WCM Investment Management LLC grew its position in Illumina by 26.6% during the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after buying an additional 867,673 shares during the period. Bank of New York Mellon Corp increased its holdings in Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock valued at $454,617,000 after buying an additional 27,618 shares during the last quarter. Geode Capital Management LLC raised its position in Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after acquiring an additional 48,018 shares during the period. Finally, Brown Advisory Inc. boosted its stake in shares of Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after acquiring an additional 1,909,118 shares during the last quarter. 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.