Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Illumina (NASDAQ:ILMN) had its target price lifted by stock analysts at Canaccord Genuity Group from $112.00 to $130.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s target price points to a potential downside of 4.55% from the stock’s previous close.

A number of other brokerages also recently weighed in on ILMN. TD Cowen boosted their target price on shares of Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Illumina from $105.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Barclays upped their target price on shares of Illumina from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, December 15th. Robert W. Baird set a $109.00 price target on Illumina in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Illumina in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.31.

Illumina Stock Performance

ILMN opened at $136.19 on Monday. The business’s 50-day simple moving average is $119.98 and its 200 day simple moving average is $105.41. Illumina has a 52-week low of $68.70 and a 52-week high of $153.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.12 and a current ratio of 1.43. The firm has a market capitalization of $20.81 billion, a PE ratio of 30.54, a PEG ratio of 2.46 and a beta of 1.44.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. Illumina had a return on equity of 29.21% and a net margin of 16.40%.The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $1.14 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, sell-side analysts expect that Illumina will post 4.51 earnings per share for the current fiscal year.

Insider Activity at Illumina

In related news, insider Scott M. Davies sold 323 shares of Illumina stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $136.09, for a total transaction of $43,957.07. Following the completion of the sale, the insider directly owned 17,887 shares of the company’s stock, valued at approximately $2,434,241.83. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott Gottlieb purchased 500 shares of Illumina stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $122.13 per share, with a total value of $61,065.00. Following the completion of the purchase, the director directly owned 12,523 shares in the company, valued at $1,529,433.99. This trade represents a 4.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Illumina

A number of institutional investors have recently modified their holdings of ILMN. Cresset Asset Management LLC raised its stake in Illumina by 19.4% in the 1st quarter. Cresset Asset Management LLC now owns 5,656 shares of the life sciences company’s stock worth $449,000 after purchasing an additional 919 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Illumina by 47.1% during the first quarter. Wellington Management Group LLP now owns 37,213 shares of the life sciences company’s stock worth $2,952,000 after purchasing an additional 11,915 shares during the period. AlphaQuest LLC acquired a new stake in shares of Illumina in the first quarter valued at approximately $692,000. Jump Financial LLC boosted its stake in shares of Illumina by 919.0% in the first quarter. Jump Financial LLC now owns 80,147 shares of the life sciences company’s stock valued at $6,359,000 after buying an additional 72,282 shares during the period. Finally, Ieq Capital LLC grew its position in Illumina by 141.3% during the first quarter. Ieq Capital LLC now owns 68,798 shares of the life sciences company’s stock worth $5,458,000 after buying an additional 40,291 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.