Illumina (ILMN) Given New $400.00 Price Target at Cowen

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Illumina (NASDAQ:ILMN) had its price target raised by equities research analysts at Cowen from $315.00 to $400.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “positive” rating on the life sciences company’s stock. Cowen’s target price indicates a potential upside of 14.80% from the company’s current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Illumina to $350.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Barclays lifted their target price on Illumina from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $350.00 target price on shares of Illumina in a report on Tuesday, July 31st. Bank of America lifted their target price on Illumina from $345.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $340.00 target price (up previously from $330.00) on shares of Illumina in a report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $308.25.

ILMN stock traded up $0.14 during mid-day trading on Thursday, reaching $348.43. 2,464 shares of the company traded hands, compared to its average volume of 895,554. The company has a quick ratio of 2.44, a current ratio of 2.74 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $50.91 billion, a PE ratio of 86.78, a PEG ratio of 2.87 and a beta of 0.97. Illumina has a 52-week low of $196.00 and a 52-week high of $357.93.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, July 30th. The life sciences company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.32. The business had revenue of $830.00 million during the quarter, compared to analyst estimates of $786.88 million. Illumina had a return on equity of 26.64% and a net margin of 20.88%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. equities research analysts anticipate that Illumina will post 5.46 EPS for the current fiscal year.

In other news, CEO Francis A. Desouza sold 2,100 shares of Illumina stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $276.14, for a total transaction of $579,894.00. Following the completion of the sale, the chief executive officer now owns 83,282 shares in the company, valued at approximately $22,997,491.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert S. Epstein sold 500 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $288.45, for a total value of $144,225.00. Following the completion of the sale, the director now owns 6,639 shares of the company’s stock, valued at approximately $1,915,019.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,137 shares of company stock valued at $13,246,862. Corporate insiders own 0.54% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its position in Illumina by 4.5% in the 2nd quarter. Jennison Associates LLC now owns 4,297,581 shares of the life sciences company’s stock worth $1,200,271,000 after buying an additional 185,745 shares during the last quarter. Fred Alger Management Inc. lifted its position in Illumina by 21.4% in the 2nd quarter. Fred Alger Management Inc. now owns 778,450 shares of the life sciences company’s stock worth $217,413,000 after buying an additional 137,302 shares during the last quarter. American Century Companies Inc. lifted its position in Illumina by 19.2% in the first quarter. American Century Companies Inc. now owns 761,796 shares of the life sciences company’s stock valued at $180,104,000 after purchasing an additional 122,612 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Illumina by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 604,615 shares of the life sciences company’s stock valued at $168,863,000 after purchasing an additional 31,985 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Illumina by 219.8% in the second quarter. Millennium Management LLC now owns 548,957 shares of the life sciences company’s stock valued at $153,318,000 after purchasing an additional 377,283 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

About Illumina

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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