Illumina Inc. (ILMN) Price Target Cut to $135.00 by Analysts at Canaccord Genuity
Illumina Inc. (NASDAQ:ILMN) had its price target decreased by equities researchers at Canaccord Genuity from $165.00 to $135.00 in a research note issued to investors on Tuesday. The firm presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity’s price target indicates a potential downside of 26.97% from the stock’s previous close.
A number of other brokerages also recently issued reports on ILMN. Vetr downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $187.86 price objective on the stock. in a research note on Monday. Citigroup Inc. downgraded shares of Illumina from a “buy” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a research note on Tuesday. Barclays PLC reduced their price objective on shares of Illumina from $150.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Janney Montgomery Scott downgraded shares of Illumina from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $155.00 to $125.00 in a research note on Tuesday. Finally, Cantor Fitzgerald reduced their price objective on shares of Illumina from $165.00 to $155.00 and set a “hold” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. Illumina currently has an average rating of “Hold” and a consensus target price of $160.21.
Illumina (NASDAQ:ILMN) traded down 25.14% during midday trading on Tuesday, hitting $138.37. 9,740,937 shares of the company were exchanged. The firm’s 50-day moving average price is $175.01 and its 200-day moving average price is $156.56. Illumina has a one year low of $127.10 and a one year high of $196.47. The stock has a market capitalization of $20.29 billion, a PE ratio of 47.39 and a beta of 0.47.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/illumina-inc-ilmn-price-target-cut-to-135-00-by-analysts-at-canaccord-genuity.html
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Illumina will post $3.53 earnings per share for the current year.
In other Illumina news, Director Roy A. Whitfield sold 4,000 shares of Illumina stock in a transaction on Friday, August 12th. The shares were sold at an average price of $167.22, for a total transaction of $668,880.00. Following the transaction, the director now directly owns 6,853 shares of the company’s stock, valued at approximately $1,145,958.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A Blaine Bowman sold 5,000 shares of Illumina stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $147.14, for a total transaction of $735,700.00. Following the transaction, the director now directly owns 20,704 shares in the company, valued at $3,046,386.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA increased its position in Illumina by 26.2% in the first quarter. Glenmede Trust Co. NA now owns 3,660 shares of the life sciences company’s stock worth $593,000 after buying an additional 760 shares in the last quarter. Virginia Retirement System purchased a new position in Illumina during the first quarter worth about $385,000. IFP Advisors Inc increased its position in Illumina by 215.6% in the first quarter. IFP Advisors Inc now owns 1,133 shares of the life sciences company’s stock worth $184,000 after buying an additional 774 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Illumina during the first quarter worth about $403,000. Finally, Menta Capital LLC purchased a new position in Illumina during the first quarter worth about $603,000. 95.22% of the stock is currently owned by hedge funds and other institutional investors.
Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.
Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.