Illumina (NASDAQ:ILMN) Given New $155.00 Price Target at Citigroup

Illumina (NASDAQ:ILMN) had its price objective lifted by Citigroup from $140.00 to $155.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the life sciences company’s stock. Citigroup’s target price points to a potential upside of 27.99% from the stock’s previous close.

ILMN has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen lowered their target price on shares of Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. Stephens reissued an “overweight” rating and issued a $170.00 price target on shares of Illumina in a report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and issued a $242.00 price target on shares of Illumina in a research note on Wednesday. Finally, Evercore ISI reduced their price objective on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $151.38.

Illumina Stock Performance

Shares of ILMN traded up $4.74 during mid-day trading on Wednesday, hitting $121.10. 4,401,878 shares of the company traded hands, compared to its average volume of 2,124,175. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of -14.88 and a beta of 1.15. The stock has a 50-day moving average price of $111.70 and a two-hundred day moving average price of $123.25. Illumina has a 1 year low of $89.00 and a 1 year high of $195.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. Equities analysts anticipate that Illumina will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ILMN. Trivant Custom Portfolio Group LLC raised its position in Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Illumina in the fourth quarter valued at about $37,000. Massmutual Trust Co. FSB ADV lifted its stake in Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after acquiring an additional 132 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in Illumina during the 4th quarter worth about $42,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Illumina during the 2nd quarter valued at about $34,000. Institutional investors own 89.42% of the company’s stock.

About Illumina

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.