Illumina (NASDAQ:ILMN) Given New $112.00 Price Target at Royal Bank of Canada

Illumina (NASDAQ:ILMN) had its price target decreased by investment analysts at Royal Bank of Canada from $128.00 to $112.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 51.80% from the stock’s current price.

A number of other analysts have also weighed in on the company. HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Friday, February 28th. Morgan Stanley reduced their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Canaccord Genuity Group lowered their price objective on Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and lowered their price target for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Finally, Robert W. Baird reduced their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.85.

Illumina Price Performance

ILMN traded up $0.33 during trading on Tuesday, reaching $73.78. The company’s stock had a trading volume of 539,344 shares, compared to its average volume of 2,228,066. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $95.52 and a two-hundred day simple moving average of $124.59. The company has a market cap of $11.69 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 1.60 and a beta of 1.38. Illumina has a 1 year low of $69.55 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, analysts anticipate that Illumina will post 4.51 EPS for the current year.

Hedge Funds Weigh In On Illumina

Institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares during the period. Golden State Wealth Management LLC acquired a new position in Illumina during the 4th quarter worth approximately $32,000. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina during the 4th quarter worth approximately $40,000. Assetmark Inc. boosted its stake in shares of Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after buying an additional 296 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Illumina during the fourth quarter worth $45,000. 89.42% of the stock is owned by institutional investors and hedge funds.

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.