Illumina (NASDAQ:ILMN) Given New $130.00 Price Target at Barclays

Illumina (NASDAQ:ILMN) had its price objective cut by research analysts at Barclays from $145.00 to $130.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the life sciences company’s stock. Barclays‘s price target suggests a potential downside of 0.84% from the company’s previous close.

A number of other research firms also recently issued reports on ILMN. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. Leerink Partners boosted their price target on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird increased their price objective on shares of Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Piper Sandler cut their target price on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Stephens upped their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.84.

Illumina Stock Performance

ILMN traded down $1.64 during midday trading on Monday, hitting $131.11. 687,134 shares of the company traded hands, compared to its average volume of 1,625,162. The company’s 50-day moving average is $138.82 and its 200 day moving average is $135.32. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The firm has a market capitalization of $20.79 billion, a PE ratio of -13.15 and a beta of 1.11. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. On average, research analysts expect that Illumina will post 4.13 EPS for the current year.

Institutional Investors Weigh In On Illumina

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Illumina in the fourth quarter worth $32,000. TD Private Client Wealth LLC increased its position in Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after purchasing an additional 141 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Illumina by 50.6% during the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock valued at $52,000 after purchasing an additional 132 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Illumina Company Profile

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.