Illumina (NASDAQ:ILMN) Given New $128.00 Price Target at Evercore ISI

Illumina (NASDAQ:ILMN - Get Free Report) had its target price upped by analysts at Evercore ISI from $116.00 to $128.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the life sciences company's stock. Evercore ISI's price target suggests a potential upside of 28.94% from the company's current price.

Several other equities analysts have also recently weighed in on ILMN. Citigroup lowered their price objective on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Canaccord Genuity Group lifted their price objective on shares of Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Morgan Stanley lowered their price objective on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Royal Bank Of Canada lowered their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Illumina Stock Performance

ILMN traded up $2.12 on Tuesday, hitting $99.27. 1,894,815 shares of the company's stock were exchanged, compared to its average volume of 2,149,133. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $85.44 and a two-hundred day moving average of $96.95. Illumina has a twelve month low of $68.70 and a twelve month high of $156.66. The firm has a market cap of $15.71 billion, a PE ratio of -16.35, a P/E/G ratio of 1.98 and a beta of 1.36.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.98 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Insider Activity

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer owned 24,906 shares of the company's stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Diversified Trust Co acquired a new position in Illumina during the first quarter worth $355,000. State of Alaska Department of Revenue lifted its stake in Illumina by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock valued at $1,469,000 after acquiring an additional 445 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Illumina in the fourth quarter valued at $50,577,000. Merit Financial Group LLC lifted its stake in Illumina by 344.8% in the first quarter. Merit Financial Group LLC now owns 13,036 shares of the life sciences company's stock valued at $1,034,000 after acquiring an additional 10,105 shares during the last quarter. Finally, Trexquant Investment LP lifted its stake in Illumina by 16.7% in the fourth quarter. Trexquant Investment LP now owns 142,977 shares of the life sciences company's stock valued at $19,106,000 after acquiring an additional 20,506 shares during the last quarter. Institutional investors and hedge funds 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.