Royal Bank Of Canada Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Key Points

• Royal Bank of Canada raised Illumina’s price target to $310 from $230 and maintained an “outperform” rating, implying approximately 11.85% upside from the stock’s current price.
• Illumina reported quarterly EPS of $1.31 versus the $1.23 consensus estimate, while revenue reached $1.16 billion and increased 9.4% year over year.
• Analyst sentiment remains mixed, with 10 Buy, six Hold, and two Sell ratings producing an average “Hold” rating and a $219.69 target; meanwhile, insiders sold $436.5 million of stock over the past 90 days.

Illumina (NASDAQ:ILMN - Get Free Report) had its target price hoisted by equities researchers at Royal Bank Of Canada from $230.00 to $310.00 in a report released on Monday, Benzinga reports. The firm currently has an "outperform" rating on the life sciences company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 11.85% from the stock's current price.

ILMN has been the topic of several other research reports. Argus lifted their target price on shares of Illumina from $180.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Citigroup lifted their price target on Illumina from $95.00 to $113.00 and gave the company a "sell" rating in a research report on Monday, August 3rd. UBS Group upgraded shares of Illumina from a "neutral" rating to a "buy" rating and lifted their target price for the company from $135.00 to $260.00 in a research report on Wednesday, September 9th. TD Cowen increased their price target on shares of Illumina from $192.00 to $210.00 and gave the stock a "hold" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Illumina from $220.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $219.69.

Illumina Stock Up 1.5%

Shares of ILMN opened at $277.15 on Monday. The stock's 50-day moving average price is $219.37 and its two-hundred day moving average price is $175.95. Illumina has a 12 month low of $88.00 and a 12 month high of $280.17. The company has a market capitalization of $41.85 billion, a PE ratio of 51.47, a PEG ratio of 3.87 and a beta of 1.41. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.08. The company 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 firm's revenue 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. On average, analysts anticipate that Illumina will post 5.36 EPS for the current year.

Insider Buying and Selling at Illumina

In related news, Director Keith Meister sold 457,858 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total value of $91,617,385.80. Following the completion of the transaction, the director directly owned 2,372,694 shares of the company's stock, valued at approximately $474,776,069.40. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,061,850 shares of company stock worth $436,479,102 in the last ninety days. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. BlackRock Inc. purchased a new position in shares of Illumina in the 2nd quarter worth approximately $3,374,423,000. Primecap Management Co. CA bought a new position in shares of Illumina during the 2nd quarter valued at approximately $617,981,000. Jupiter Topco LLC purchased a new stake in Illumina during the 2nd quarter valued at $358,652,000. WCM Investment Management LLC lifted its position in Illumina by 45.5% in the first quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company's stock worth $715,579,000 after buying an additional 1,851,848 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Illumina in the second quarter worth $293,846,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Company Profile

Illumina, Inc develops and manufactures technologies used to analyze genetic variation and biological function. Its products are primarily based on next-generation sequencing, a method that enables researchers and clinicians to read DNA and RNA for applications including genomic research, disease studies, drug development and clinical testing.

The company offers sequencing instruments, consumables such as reagent kits and flow cells, and related software and informatics solutions. Illumina also provides services and support designed to help customers prepare samples, run sequencing workflows, interpret genomic data and integrate results into research or clinical operations.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers worldwide, including academic and government research institutions, pharmaceutical and biotechnology companies, hospitals, clinical laboratories and other healthcare organizations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.