Piper Jaffray Companies Increases Illumina (ILMN) Price Target to $329.00
Illumina (NASDAQ:ILMN) had its price objective increased by Piper Jaffray Companies to $329.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the life sciences company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 8.94% from the stock’s previous close.
A number of other equities research analysts have also commented on ILMN. Cowen increased their price target on Illumina from $275.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Morgan Stanley increased their price target on Illumina from $195.00 to $210.00 and gave the company an “underweight” rating in a research report on Friday. Citigroup increased their price target on Illumina from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 25th. BTIG Research reissued a “hold” rating on shares of Illumina in a research report on Wednesday, April 25th. Finally, Robert W. Baird increased their price target on Illumina from $261.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $262.81.
Shares of Illumina opened at $301.99 on Tuesday, Marketbeat Ratings reports. The company has a current ratio of 2.71, a quick ratio of 2.41 and a debt-to-equity ratio of 0.23. Illumina has a twelve month low of $169.70 and a twelve month high of $314.96. The company has a market cap of $45.13 billion, a PE ratio of 75.50, a PEG ratio of 3.28 and a beta of 0.90.
In other news, CEO Francis A. Desouza sold 2,100 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $268.63, for a total transaction of $564,123.00. Following the completion of the transaction, the chief executive officer now owns 87,371 shares in the company, valued at approximately $23,470,471.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francis A. Desouza sold 3,300 shares of the stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $300.00, for a total value of $990,000.00. Following the transaction, the insider now owns 78,635 shares of the company’s stock, valued at approximately $23,590,500. The disclosure for this sale can be found here. Insiders sold a total of 47,655 shares of company stock valued at $13,169,024 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Illumina during the 1st quarter worth $113,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Illumina during the 2nd quarter worth $203,000. Financial Gravity Wealth Inc. bought a new position in shares of Illumina during the 1st quarter worth $193,000. Palladium Partners LLC bought a new position in shares of Illumina during the 1st quarter worth $209,000. Finally, Boston Private Wealth LLC bought a new position in shares of Illumina during the 1st quarter worth $218,000. Institutional investors own 90.54% of the company’s stock.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
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