Piper Sandler Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target decreased by stock analysts at Piper Sandler from $195.00 to $185.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the life sciences company’s stock. Piper Sandler’s target price would suggest a potential upside of 25.32% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. StockNews.com started coverage on shares of Illumina in a report on Thursday, August 29th. They issued a “buy” rating on the stock. Citigroup lifted their target price on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Performance

ILMN stock opened at $147.62 on Monday. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina has a twelve month low of $92.26 and a twelve month high of $156.66. The business’s fifty day moving average is $138.50 and its 200-day moving average is $123.77. The company has a market cap of $23.41 billion, a P/E ratio of -15.21 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Equities research analysts forecast that Illumina will post 4.11 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ILMN. Industrial Alliance Investment Management Inc. acquired a new stake in Illumina in the 2nd quarter valued at about $34,000. Versant Capital Management Inc boosted its stake in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after acquiring an additional 168 shares during the period. Focused Wealth Management Inc bought a new position in Illumina during the third quarter worth $63,000. Finally, Hollencrest Capital Management bought a new position in shares of Illumina in the third quarter valued at about $63,000. Institutional investors own 89.42% of the company’s stock.

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.