Illumina (NASDAQ:ILMN) Given New $247.00 Price Target at Royal Bank of Canada

Illumina (NASDAQ:ILMN) had its price objective lowered by Royal Bank of Canada from $250.00 to $247.00 in a research report released on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the life sciences company’s stock.

Other research analysts also recently issued research reports about the company. Stephens upped their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Guggenheim lowered their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. Canaccord Genuity Group reduced their target price on shares of Illumina from $145.00 to $135.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler lowered their price target 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, TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and cut their price objective for the stock from $177.00 to $140.00 in a report on Friday. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.40.

Illumina Price Performance

Shares of Illumina stock opened at $111.06 on Friday. The business has a 50 day moving average of $137.37 and a 200 day moving average of $135.34. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The company has a market cap of $17.61 billion, a PE ratio of -11.15 and a beta of 1.10. 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 quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. As a group, equities research analysts forecast that Illumina will post 4.13 earnings per share for the current year.

Institutional Trading of Illumina

A number of hedge funds have recently bought and sold shares of ILMN. Empowered Funds LLC increased its position in shares of Illumina by 1.7% during the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after purchasing an additional 66 shares during the last quarter. Bank of Stockton grew its position in Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after buying an additional 80 shares during the period. Caprock Group LLC increased its holdings in Illumina by 3.0% during the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock valued at $376,000 after buying an additional 83 shares during the last quarter. Integrated Advisors Network LLC raised its position in Illumina by 2.0% in the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after acquiring an additional 90 shares during the period. Finally, Stephens Inc. AR boosted its stake in shares of Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock worth $885,000 after acquiring an additional 90 shares during the last quarter. 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.