Illumina Given New $65.00 Price Target at Wedbush (ILMN)
Analysts at Wedbush boosted their price target on shares of Illumina (NASDAQ:ILMN) from $60.00 to $65.00 in a research report issued to clients and investors on Tuesday, Stock Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective indicates a potential downside of 18.98% from the stock’s previous close.
Illumina (NASDAQ:ILMN) traded down 1.19% on Tuesday, hitting $80.23. 717,541 shares of the company’s stock traded hands. Illumina has a one year low of $44.78 and a one year high of $85.81. The stock’s 50-day moving average is $80.26 and its 200-day moving average is $72.72. The company has a market cap of $10.038 billion and a price-to-earnings ratio of 95.53.
Illumina (NASDAQ:ILMN) last released its earnings data on Tuesday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $346.09 million for the quarter, compared to the consensus estimate of $331.77 million. During the same quarter last year, the company posted $0.40 earnings per share. Illumina’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that Illumina will post $1.72 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of Illumina in a research note to investors on Friday, September 27th. They now have a $90.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Illumina from $73.00 to $74.00 in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Illumina in a research note to investors on Monday, September 9th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.96.
In other Illumina news, CEO Jay T. Flatley sold 20,000 shares of Illumina stock on the open market in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.75, for a total transaction of $1,555,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Illumina, Inc (NASDAQ:ILMN) is a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function.
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