Barclays Boosts Illumina (NASDAQ:ILMN) Price Target to $100.00

Illumina (NASDAQ:ILMN) had its price target raised by Barclays from $85.00 to $100.00 in a research report sent to investors on Wednesday, Benzinga reports. Barclays currently has an underweight rating on the life sciences company’s stock.

A number of other brokerages have also recently issued reports on ILMN. Bank of America cut Illumina from a neutral rating to an underperform rating and cut their target price for the stock from $140.00 to $100.00 in a report on Tuesday, December 12th. Scotiabank upgraded Illumina from a sector perform rating to a sector outperform rating and set a $185.00 price objective on the stock in a research note on Monday, December 18th. TD Cowen cut Illumina from an outperform rating to a market perform rating and set a $144.00 price objective on the stock. in a research note on Thursday, January 4th. OTR Global restated a mixed rating on shares of Illumina in a research note on Wednesday, March 20th. Finally, HSBC cut Illumina from a buy rating to a hold rating in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $167.70.

Illumina Price Performance

Shares of ILMN opened at $131.17 on Wednesday. Illumina has a 12-month low of $89.00 and a 12-month high of $232.88. The business’s fifty day moving average is $136.42 and its 200 day moving average is $128.48. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.26. The stock has a market cap of $20.89 billion, a P/E ratio of -17.87 and a beta of 1.19.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.13. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.14 EPS. Illumina’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Illumina will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other Illumina news, CEO Jacob Thaysen bought 7,330 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average cost of $135.29 per share, with a total value of $991,675.70. Following the transaction, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Illumina

Large investors have recently added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Illumina in the 3rd quarter worth about $29,558,000. Weil Company Inc. increased its holdings in Illumina by 59.2% in the 3rd quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company’s stock worth $3,152,000 after acquiring an additional 8,539 shares during the last quarter. Vanguard Group Inc. increased its holdings in Illumina by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock worth $2,466,614,000 after acquiring an additional 2,336,935 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Illumina by 60.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,246 shares of the life sciences company’s stock worth $171,000 after acquiring an additional 470 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its holdings in Illumina by 344.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.