TD Cowen Boosts Illumina (NASDAQ:ILMN) Price Target to $115.00

Illumina (NASDAQ:ILMN) had its price objective raised by equities researchers at TD Cowen from $110.00 to $115.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the life sciences company’s stock. TD Cowen’s price target points to a potential downside of 6.99% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Robert W. Baird set a $109.00 price target on shares of Illumina in a research report on Friday. Canaccord Genuity Group raised their target price on shares of Illumina from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Friday. Royal Bank Of Canada set a $124.00 target price on shares of Illumina in a research note on Tuesday, September 2nd. Citigroup lowered shares of Illumina from a “hold” rating to a “strong sell” rating and dropped their price objective for the company from $85.00 to $80.00 in a report on Wednesday, July 9th. Finally, Cowen restated a “hold” rating on shares of Illumina in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Hold” and an average price target of $115.00.

Illumina Price Performance

Illumina stock opened at $123.64 on Friday. The company’s fifty day moving average price is $98.41 and its 200 day moving average price is $92.76. Illumina has a 1 year low of $68.70 and a 1 year high of $156.66. The stock has a market capitalization of $19.00 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.34 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, equities research analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of institutional investors and hedge funds have recently made changes to their positions in ILMN. Rise Advisors LLC boosted its position in shares of Illumina by 173.6% during the 1st quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 224 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Illumina by 65.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 115 shares during the period. Quent Capital LLC acquired a new stake in shares of Illumina in the third quarter valued at $29,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Illumina in the 2nd quarter valued at $41,000. Finally, NewSquare Capital LLC raised its holdings in shares of Illumina by 604.9% in the 2nd quarter. NewSquare Capital LLC now owns 430 shares of the life sciences company’s stock valued at $41,000 after buying an additional 369 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.