JPMorgan Chase & Co. Issues Pessimistic Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price lowered by JPMorgan Chase & Co. from $120.00 to $85.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the life sciences company’s stock.

A number of other equities research analysts have also recently commented on ILMN. Morgan Stanley decreased their target price on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Stephens reissued an “overweight” rating and set a $156.00 target price on shares of Illumina in a research report on Tuesday, March 11th. Robert W. Baird decreased their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Canaccord Genuity Group decreased their target price on shares of Illumina from $115.00 to $92.00 and set a “hold” rating for the company in a research report on Tuesday, April 29th. Finally, TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and decreased their target price for the company from $177.00 to $140.00 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

Illumina Price Performance

NASDAQ ILMN opened at $75.76 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The firm’s 50 day moving average price is $78.94 and its 200-day moving average price is $113.12. Illumina has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a market cap of $11.99 billion, a PE ratio of -9.86, a P/E/G ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Illumina’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Capital World Investors raised its holdings in shares of Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock worth $2,408,721,000 after purchasing an additional 14,481,232 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Illumina by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company’s stock worth $1,298,928,000 after purchasing an additional 558,243 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Illumina by 1.2% during the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company’s stock worth $334,321,000 after purchasing an additional 49,156 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after purchasing an additional 27,618 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Illumina by 52.1% during the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company’s stock worth $230,818,000 after purchasing an additional 996,589 shares during the last quarter. Hedge funds and other 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.