Canaccord Genuity Group Lowers Illumina (NASDAQ:ILMN) Price Target to $87.00

Illumina (NASDAQ:ILMN) had its price objective lowered by stock analysts at Canaccord Genuity Group from $92.00 to $87.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 14.84% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Barclays reduced their target price on shares of Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Citigroup decreased their price objective on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on shares of Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.75.

Illumina Stock Performance

Shares of ILMN stock opened at $75.76 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina has a one year low of $68.70 and a one year high of $156.66. The company’s 50-day simple moving average is $78.94 and its 200-day simple moving average is $113.12. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of -9.86, a PEG ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.98 earnings per share. Illumina’s revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. raised its holdings in Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock worth $29,000 after acquiring an additional 270 shares during the period. Golden State Wealth Management LLC bought a new position in Illumina in the 4th quarter worth $32,000. Center for Financial Planning Inc. bought a new position in Illumina in the 1st quarter worth $33,000. Fourth Dimension Wealth LLC bought a new position in Illumina in the 4th quarter worth $40,000. Finally, PFS Partners LLC raised its holdings in Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company’s stock worth $40,000 after acquiring an additional 400 shares during the period. 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.