Royal Bank of Canada Issues Pessimistic Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target decreased by research analysts at Royal Bank of Canada from $250.00 to $247.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 122.66% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Piper Sandler decreased their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a report on Thursday, October 17th. Robert W. Baird boosted their price target on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Barclays dropped their target price on shares of Illumina from $145.00 to $130.00 and set an “equal weight” rating on the stock in a report on Monday. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Illumina has an average rating of “Moderate Buy” and an average target price of $161.40.

Illumina Stock Down 9.7 %

Illumina stock traded down $11.87 during midday trading on Friday, hitting $110.93. 4,263,237 shares of the stock were exchanged, compared to its average volume of 1,928,006. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The company has a 50 day moving average price of $137.37 and a two-hundred day moving average price of $135.34. The firm has a market cap of $17.59 billion, a P/E ratio of -11.19 and a beta of 1.10. Illumina has a 1 year low of $100.08 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results 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%. On average, sell-side analysts predict that Illumina will post 4.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC boosted its stake 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 worth $516,000 after acquiring an additional 66 shares in 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 purchasing an additional 80 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Illumina by 3.0% during the 3rd 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 period. Integrated Advisors Network LLC increased its position in Illumina by 2.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after purchasing an additional 90 shares during the last quarter. Finally, Stephens Inc. AR raised 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 purchasing an additional 90 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

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.