Illumina Price Target Raised to $72.00 at Wedbush (ILMN)
Equities research analysts at Wedbush raised their price target on shares of Illumina (NASDAQ:ILMN) from $65.00 to $72.00 in a research note issued to investors on Wednesday, Analyst Ratings News reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target indicates a potential downside of 22.82% from the company’s current price.
Shares of Illumina (NASDAQ:ILMN) opened at 93.29 on Wednesday. Illumina has a 1-year low of $44.78 and a 1-year high of $84.85. The stock has a 50-day moving average of $79.25 and a 200-day moving average of $68.21. The company has a market cap of $11.672 billion and a P/E ratio of 109.19.
Illumina (NASDAQ:ILMN) last announced its earnings results on Monday, October 21st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $343.42 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts predict that Illumina will post $1.77 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott raised their price target on shares of Illumina from $86.00 to $89.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Illumina from $63.00 to $72.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at ISI Group raised their price target on shares of Illumina to $85.00 in a research note to investors on Tuesday, October 22nd. They now have a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Illumina currently has a consensus rating of “Buy” and a consensus target price of $80.79.
In other Illumina news, SVP Nicholas Naclerio sold 20,000 shares of Illumina stock on the open market in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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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