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

Key Points

• Canaccord Genuity Group raised Illumina’s price target from $140 to $190, while keeping a hold rating on the stock.
• Other analysts have been mixed but generally constructive: JPMorgan upgraded Illumina to overweight, Piper Sandler lifted its target to $200, and the stock’s consensus rating remains Hold with an average target of $153.56.
• Illumina recently beat quarterly expectations, reporting $1.15 EPS on $1.09 billion in revenue, and its shares were trading near their 52-week high at about $190.05.

Illumina (NASDAQ:ILMN - Get Free Report) had its price target hoisted by Canaccord Genuity Group from $140.00 to $190.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the life sciences company's stock. Canaccord Genuity Group's target price would suggest a potential downside of 0.03% from the stock's previous close.

A number of other equities analysts have also recently commented on ILMN. Wall Street Zen cut shares of Illumina from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. upgraded shares of Illumina from a "neutral" rating to an "overweight" rating and upped their target price for the company from $125.00 to $185.00 in a research report on Wednesday, June 10th. Piper Sandler increased their price target on shares of Illumina from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Barclays lifted their price target on Illumina from $122.00 to $145.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 24th. Finally, Daiwa Securities Group raised Illumina from a "neutral" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research note on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $153.56.

Illumina Stock Performance

NASDAQ ILMN opened at $190.05 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.75 and a quick ratio of 1.36. Illumina has a 1-year low of $88.00 and a 1-year high of $196.66. The business has a 50 day simple moving average of $162.58 and a two-hundred day simple moving average of $141.90. The stock has a market capitalization of $28.75 billion, a PE ratio of 34.55, a P/E/G ratio of 3.56 and a beta of 1.47.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. The business had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.07 billion. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, research analysts predict that Illumina will post 5.21 EPS for the current fiscal year.

Insider Activity

In other news, CAO Scott D. Ericksen sold 500 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $160.00, for a total value of $80,000.00. Following the completion of the sale, the chief accounting officer owned 14,446 shares in the company, valued at approximately $2,311,360. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott M. Davies sold 615 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $180.00, for a total transaction of $110,700.00. Following the transaction, the insider owned 20,953 shares in the company, valued at $3,771,540. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,003,769 shares of company stock worth $155,710,908. Insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. JPMorgan Chase & Co. grew its holdings in shares of Illumina by 17.5% in the third quarter. JPMorgan Chase & Co. now owns 832,690 shares of the life sciences company's stock worth $79,081,000 after purchasing an additional 124,246 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Illumina by 2,792.2% during the 4th quarter. Nordea Investment Management AB now owns 944,500 shares of the life sciences company's stock valued at $124,145,000 after buying an additional 911,843 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in Illumina by 235.8% in the 1st quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company's stock valued at $1,366,000 after buying an additional 7,780 shares during the period. Swiss Life Asset Management Ltd boosted its position in Illumina by 547.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 80,155 shares of the life sciences company's stock valued at $7,612,000 after buying an additional 67,772 shares during the period. Finally, SG Americas Securities LLC grew its stake in Illumina by 8.0% in the 1st quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company's stock worth $10,640,000 after acquiring an additional 6,425 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile

Illumina, Inc NASDAQ: ILMN is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company's product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.

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