Barclays Increases Illumina (NASDAQ:ILMN) Price Target to $85.00

Illumina (NASDAQ:ILMN - Get Free Report) had its price objective increased by equities research analysts at Barclays from $77.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the life sciences company's stock. Barclays's target price indicates a potential downside of 6.34% from the stock's current price.

Several other brokerages also recently weighed in on ILMN. JPMorgan Chase & Co. lowered their target price on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Robert W. Baird lowered their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Canaccord Genuity Group upped their target price on Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Hsbc Global Res cut Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, HSBC downgraded Illumina from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.39.

Illumina Stock Up 0.2%

Shares of NASDAQ ILMN traded up $0.14 during mid-day trading on Tuesday, reaching $90.75. 524,570 shares of the company were exchanged, compared to its average volume of 2,138,714. Illumina has a 1 year low of $68.70 and a 1 year high of $156.66. The firm has a 50-day moving average of $81.03 and a 200 day moving average of $100.16. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of -14.95, a P/E/G ratio of 1.78 and a beta of 1.33. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm's revenue was down 1.4% on a year-over-year basis. On average, research analysts expect that Illumina will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Ankur Dhingra bought 6,100 shares of the business's stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, with a total value of $495,381.00. Following the acquisition, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in Illumina by 171.2% during the first quarter. Acadian Asset Management LLC now owns 32,921 shares of the life sciences company's stock worth $2,608,000 after purchasing an additional 20,784 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of Illumina by 664.5% during the 1st quarter. Bayforest Capital Ltd now owns 3,058 shares of the life sciences company's stock worth $243,000 after buying an additional 2,658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Illumina by 51.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,960,385 shares of the life sciences company's stock valued at $155,537,000 after buying an additional 667,978 shares in the last quarter. Empowered Funds LLC grew its stake in Illumina by 113.7% in the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company's stock valued at $737,000 after acquiring an additional 4,940 shares during the period. Finally, Rise Advisors LLC grew its stake in Illumina by 173.6% in the 1st quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock valued at $28,000 after acquiring an additional 224 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

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.

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