Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity raised Illumina’s price target from $205 to $300 while maintaining a “hold” rating, implying 14.27% upside from the previous close.
• Analyst sentiment remains mixed: Illumina has 10 buy, 6 hold and 2 sell ratings, with an average rating of “hold” and an average price target of $231.88.
• Illumina recently exceeded quarterly earnings and revenue expectations, while insiders sold more than 2 million shares worth approximately $436.5 million in the last quarter.

Illumina (NASDAQ:ILMN - Get Free Report) had its target price increased by Canaccord Genuity Group from $205.00 to $300.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the life sciences company's stock. Canaccord Genuity Group's price target indicates a potential upside of 14.27% from the stock's previous close.

A number of other equities analysts also recently issued reports on the company. Evercore reissued an "outperform" rating on shares of Illumina in a research report on Monday, July 6th. Piper Sandler lifted their price objective on Illumina from $225.00 to $305.00 and gave the company an "overweight" rating in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft lowered shares of Illumina to a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their target price on shares of Illumina from $230.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, October 5th. Finally, UBS Group raised shares of Illumina from a "neutral" rating to a "buy" rating and raised their target price for the company from $135.00 to $260.00 in a research report on Wednesday, September 9th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $231.88.

Illumina Price Performance

ILMN stock opened at $262.54 on Monday. Illumina has a 12 month low of $94.00 and a 12 month high of $309.35. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $234.53 and a 200 day moving average price of $186.47. The stock has a market cap of $39.64 billion, a PE ratio of 48.98, a P/E/G ratio of 3.72 and a beta of 1.41.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.08. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Equities research analysts anticipate that Illumina will post 5.36 earnings per share for the current year.

Insider Buying and Selling at Illumina

In other Illumina news, Director Keith Meister sold 457,858 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total value of $91,617,385.80. Following the transaction, the director owned 2,372,694 shares in the company, valued at approximately $474,776,069.40. This trade represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 2,061,850 shares of company stock valued at $436,479,102 in the last quarter. Company insiders own 2.90% of the company's stock.

Institutional Trading of Illumina

Several large investors have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC bought a new position in shares of Illumina in the third quarter valued at approximately $534,000. IFP Advisors Inc grew its position in Illumina by 2.9% in the 3rd quarter. IFP Advisors Inc now owns 1,986 shares of the life sciences company's stock worth $544,000 after purchasing an additional 56 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Illumina during the 3rd quarter worth about $422,000. Robertson Stephens Wealth Management LLC increased its holdings in shares of Illumina by 0.9% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 6,748 shares of the life sciences company's stock worth $1,847,000 after purchasing an additional 63 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of Illumina during the third quarter valued at about $582,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

About Illumina

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company's offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.

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