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

Illumina (NASDAQ:ILMN) had its target price dropped by equities researchers at Royal Bank of Canada from $247.00 to $128.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 54.58% from the company’s current price.

ILMN has been the subject of several other reports. Barclays reaffirmed an “underweight” rating on shares of Illumina in a research report on Tuesday. Stephens reiterated an “overweight” rating and issued a $156.00 price target on shares of Illumina in a research note on Tuesday. Morgan Stanley cut their price objective on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Piper Sandler upped their target price on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Canaccord Genuity Group cut their price target on shares of Illumina from $135.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.90.

Illumina Stock Down 2.0 %

ILMN stock traded down $1.72 during midday trading on Wednesday, hitting $82.81. The company’s stock had a trading volume of 776,769 shares, compared to its average volume of 2,639,527. The firm has a 50-day simple moving average of $116.45 and a 200-day simple moving average of $130.84. The firm has a market capitalization of $13.12 billion, a P/E ratio of -10.79, a PEG ratio of 1.60 and a beta of 1.17. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Illumina has a 52-week low of $80.18 and a 52-week high of $156.66.

Illumina (NASDAQ:ILMN) last released its 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 13.37% and a negative net margin of 27.95%. As a group, equities analysts forecast that Illumina will post 4.51 EPS for the current year.

Hedge Funds Weigh In On Illumina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Illumina in the fourth quarter worth approximately $32,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Illumina during the fourth quarter worth approximately $40,000. Assetmark Inc. boosted its holdings in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Illumina during the fourth quarter valued at approximately $45,000. 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.