Illumina (NASDAQ:ILMN) Given New $77.00 Price Target at Barclays

Illumina (NASDAQ:ILMN) had its price target cut by Barclays from $100.00 to $77.00 in a research report report published on Thursday,Benzinga reports. They currently have an underweight rating on the life sciences company’s stock.

A number of other brokerages also recently commented on ILMN. TD Cowen downgraded Illumina from a “buy” rating to a “hold” rating and decreased their price target for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Guggenheim dropped their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Stephens restated an “overweight” rating and issued a $156.00 target price on shares of Illumina in a research note on Tuesday, March 11th. HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Friday, February 28th. Finally, Citigroup cut their price objective on Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $138.70.

Illumina Price Performance

ILMN stock opened at $71.26 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The business has a 50-day simple moving average of $89.57 and a two-hundred day simple moving average of $122.68. The company has a market capitalization of $11.29 billion, a P/E ratio of -9.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. Illumina has a 52-week low of $68.70 and a 52-week high of $156.66.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Research analysts expect that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Trading of Illumina

A number of institutional investors have recently modified their holdings of ILMN. Integrated Wealth Concepts LLC grew its position in shares of Illumina by 4.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,990 shares of the life sciences company’s stock worth $390,000 after buying an additional 135 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Illumina by 29.5% in the third quarter. Quantinno Capital Management LP now owns 12,644 shares of the life sciences company’s stock valued at $1,649,000 after acquiring an additional 2,879 shares in the last quarter. Wellington Management Group LLP increased its position in Illumina by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 30,946 shares of the life sciences company’s stock valued at $4,036,000 after purchasing an additional 755 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Illumina in the 3rd quarter worth $414,000. Finally, XTX Topco Ltd purchased a new stake in shares of Illumina in the 3rd quarter worth about $226,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.