Illumina Coverage Initiated at Stifel Nicolaus (ILMN)
Research analysts at Stifel Nicolaus began coverage on shares of Illumina (NASDAQ:ILMN) in a report released on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $200.00 price target on the stock. Stifel Nicolaus’ price target indicates a potential upside of 21.85% from the stock’s previous close.
The analysts wrote, “Depending on the pace of NGS adoption in emerging diagnostic applications there could be significant upside to our outer year sales and EPS projections. Cancer diagnostics in the US could contribute ~$1.5-$2.0 Billion in revenues, by our calculations. High risk, prenatal testing globally could be another ~$1 Billion. Should these opportunities materialize, by 2018, ILMN’s revenues could be significantly higher than the ~$3.2 Billion we currently project”
A number of other analysts have also recently weighed in on ILMN. Analysts at Goldman Sachs raised their price target on shares of Illumina from $184.00 to $187.00 in a research note on Tuesday, August 5th. Separately, analysts at Tigress Financial initiated coverage on shares of Illumina in a research note on Friday, August 1st. They set a “buy” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Illumina in a research note on Thursday, July 24th. They now have a $198.00 price target on the stock, up previously from $180.00. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $171.81.
In other Illumina news, Director A Blaine Bowman sold 5,000 shares of Illumina stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $159.91, for a total value of $799,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Illumina (NASDAQ:ILMN) traded down 0.79% during mid-day trading on Monday, hitting $162.84. 304,291 shares of the company’s stock traded hands. Illumina has a 52-week low of $72.77 and a 52-week high of $185.00. The stock’s 50-day moving average is $170. and its 200-day moving average is $159.3. The company has a market cap of $22.700 billion and a price-to-earnings ratio of 109.65.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $448.00 million for the quarter, compared to the consensus estimate of $426.50 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. Analysts expect that Illumina will post $2.29 EPS for the current fiscal year.
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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