Illumina (NASDAQ:ILMN) Issues Quarterly Earnings Results

Illumina (NASDAQ:ILMN) issued its earnings results on Thursday. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06), Zacks reports. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%.

Illumina Stock Down 1.5 %

NASDAQ:ILMN traded down $1.88 during trading hours on Thursday, reaching $122.80. The company had a trading volume of 2,145,761 shares, compared to its average volume of 1,834,142. The business’s 50-day simple moving average is $137.80 and its two-hundred day simple moving average is $135.42. Illumina has a twelve month low of $100.08 and a twelve month high of $156.66. The firm has a market cap of $19.48 billion, a price-to-earnings ratio of -12.33 and a beta of 1.10. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ILMN. TD Cowen lifted their target price on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley decreased their price target on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group raised their target price on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler lowered their price target on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.84.

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.