Illumina (NASDAQ:ILMN) Cut to Underweight at Barclays

Illumina (NASDAQ:ILMN) was downgraded by investment analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $100.00 target price on the life sciences company’s stock, down from their prior target price of $130.00. Barclays‘s target price would suggest a potential downside of 0.68% from the company’s previous close.

Several other equities analysts have also commented on ILMN. Robert W. Baird increased their price objective on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. UBS Group raised their target price on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Leerink Partners increased their price objective on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and an average target price of $159.45.

Illumina Price Performance

Shares of ILMN stock opened at $100.68 on Monday. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The company has a market cap of $15.97 billion, a P/E ratio of -13.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock’s 50-day moving average is $135.90 and its 200 day moving average is $135.48.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data 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 negative net margin of 27.95% and a positive return on equity of 12.59%. Research analysts predict that Illumina will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

Several institutional investors and hedge funds have recently modified their holdings of the company. Zacks Investment Management acquired a new stake in shares of Illumina in the third quarter valued at $2,924,000. Bleakley Financial Group LLC purchased a new position in shares of Illumina in the 4th quarter valued at about $751,000. Freemont Management S.A. acquired a new position in shares of Illumina during the third quarter worth about $1,565,000. Assenagon Asset Management S.A. increased its stake in shares of Illumina by 5.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after buying an additional 2,338 shares during the period. Finally, CCLA Investment Management lifted its stake in Illumina by 20.5% in the fourth quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock worth $71,493,000 after acquiring an additional 91,122 shares during the last quarter. Hedge funds and other 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.