Morgan Stanley Lowers Illumina (NASDAQ:ILMN) Price Target to $136.00

Illumina (NASDAQ:ILMN) had its target price cut by research analysts at Morgan Stanley from $150.00 to $136.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s price objective suggests a potential upside of 33.29% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Guggenheim cut their target price on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group boosted their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Barclays cut Illumina from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $130.00 to $100.00 in a research note on Monday. Piper Sandler boosted their price objective on Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $159.45.

Illumina Price Performance

NASDAQ:ILMN traded down $2.96 during trading hours on Tuesday, reaching $102.03. 1,540,315 shares of the company traded hands, compared to its average volume of 2,200,355. The stock has a market cap of $16.18 billion, a P/E ratio of -13.28 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 firm’s 50-day moving average is $135.90 and its 200-day moving average is $135.48. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. Equities research analysts expect that Illumina will post 4.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Institutional investors have recently modified their holdings of the company. CWM LLC raised its position in shares of Illumina by 179.8% during the third quarter. CWM LLC now owns 16,207 shares of the life sciences company’s stock valued at $2,114,000 after buying an additional 10,414 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Illumina by 323.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,047 shares of the life sciences company’s stock valued at $136,000 after buying an additional 800 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Illumina in the third quarter valued at about $276,000. Procyon Advisors LLC increased its position in Illumina by 24.5% in the 3rd quarter. Procyon Advisors LLC now owns 14,134 shares of the life sciences company’s stock valued at $1,843,000 after acquiring an additional 2,778 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Illumina during the third quarter worth approximately $235,000. Institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

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.