Robert W. Baird Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Illumina (NASDAQ:ILMN) had its target price raised by equities research analysts at Robert W. Baird from $124.00 to $139.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the life sciences company’s stock. Robert W. Baird’s price objective indicates a potential downside of 10.30% from the stock’s previous close.

A number of other research analysts have also recently commented on ILMN. Leerink Partners increased their target price on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen increased their price objective on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com started coverage on shares of Illumina in a report on Thursday, August 29th. They set a “buy” rating for the company. Canaccord Genuity Group raised their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.18.

Illumina Stock Up 1.0 %

Shares of NASDAQ ILMN opened at $154.96 on Wednesday. Illumina has a 52 week low of $89.00 and a 52 week high of $156.66. The stock’s fifty day moving average is $136.87 and its 200 day moving average is $122.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $24.69 billion, a P/E ratio of -15.56 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Sell-side analysts forecast that Illumina will post 3.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several institutional investors have recently made changes to their positions in ILMN. Versant Capital Management Inc increased its stake in Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV boosted its stake in Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Illumina during the 2nd quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Illumina in the second quarter worth approximately $63,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.