Illumina (NASDAQ:ILMN) Price Target Raised to $300.00

Illumina (NASDAQ:ILMN) had its price target raised by Canaccord Genuity Group from $205.00 to $300.00 in a research note released on Monday, Marketbeat Ratings reports. They currently have a hold rating on the life sciences company’s stock.

Other equities analysts also recently issued research reports about the company. Leerink Partners upped their target price on Illumina from $220.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Argus raised their price target on Illumina from $180.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. TD Cowen lifted their price target on shares of Illumina from $210.00 to $270.00 and gave the company a “hold” rating in a report on Tuesday, October 13th. Barclays boosted their price objective on shares of Illumina from $160.00 to $200.00 and gave the company an “underweight” rating in a research report on Wednesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Illumina to a “hold” rating in a research report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $231.88.

Illumina Trading Up 5.6%

ILMN opened at $282.86 on Monday. The business has a 50 day simple moving average of $239.24 and a two-hundred day simple moving average of $189.54. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 3.79 and a beta of 1.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. Illumina has a one year low of $94.00 and a one year high of $309.35.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.08. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts predict that Illumina will post 5.36 EPS for the current year.

Insider Activity at Illumina

In other Illumina news, SVP Christensen Wedel sold 1,033 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $191.52, for a total transaction of $197,840.16. Following the transaction, the senior vice president owned 14,023 shares in the company, valued at approximately $2,685,684.96. This represents a 6.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith Meister sold 119,501 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $218.40, for a total value of $26,099,018.40. Following the transaction, the director owned 770,350 shares in the company, valued at $168,244,440. This trade represents a 13.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,061,850 shares of company stock worth $436,479,102. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Illumina

Hedge funds have recently made changes to their positions in the company. Fiduciary Financial Advisors purchased a new stake in Illumina in the second quarter worth $26,000. MCF Advisors LLC lifted its position in Illumina by 172.4% during the second quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock valued at $28,000 after buying an additional 100 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in Illumina during the second quarter valued at $32,000. Rakuten Securities Inc. purchased a new position in Illumina during the second quarter valued at $33,000. Finally, WealthCollab LLC lifted its position in Illumina by 51.5% during the first quarter. WealthCollab LLC now owns 303 shares of the life sciences company’s stock valued at $37,000 after buying an additional 103 shares during the period. 89.42% of the stock is currently owned by institutional investors.

About Illumina

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.