Canaccord Genuity Group Forecasts Strong Price Appreciation for Illumina (NASDAQ:ILMN) Stock

Illumina (NASDAQ:ILMN) had its price target raised by equities researchers at Canaccord Genuity Group from $205.00 to $300.00 in a research note issued on Monday, MarketBeat reports. The firm currently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 11.97% from the company’s current price.

A number of other research analysts have also recently commented on the company. Argus boosted their price target on Illumina from $180.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Evercore restated an “outperform” rating on shares of Illumina in a research note on Monday, July 6th. Guggenheim increased their price objective on shares of Illumina from $226.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Piper Sandler increased their price objective on shares of Illumina from $225.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, September 28th. Finally, UBS Group upgraded shares of Illumina from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $260.00 in a research report on Wednesday, September 9th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $231.88.

Illumina Price Performance

NASDAQ:ILMN opened at $267.93 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $237.44 and its two-hundred day simple moving average is $188.45. The stock has a market cap of $40.46 billion, a PE ratio of 51.00, a P/E/G ratio of 3.72 and a beta of 1.41. Illumina has a 52 week low of $94.00 and a 52 week high of $309.35.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.23 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, analysts forecast that Illumina will post 5.36 EPS for the current fiscal year.

Insider Activity at Illumina

In other news, Director Keith Meister sold 457,858 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the completion of the transaction, the director owned 2,372,694 shares in the company, valued at $474,776,069.40. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 2,061,850 shares of company stock worth $436,479,102. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Illumina

Several large investors have recently made changes to their positions in ILMN. BlackRock Inc. bought a new position in shares of Illumina in the 2nd quarter worth $3,374,423,000. WCM Investment Management LLC lifted its stake in shares of Illumina by 45.5% during the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after purchasing an additional 1,851,848 shares during the last quarter. Primecap Management Co. CA bought a new stake in Illumina during the second quarter valued at about $617,981,000. Janus Henderson Group PLC boosted its position in Illumina by 1.4% during the first quarter. Janus Henderson Group PLC now owns 2,100,638 shares of the life sciences company’s stock valued at $258,924,000 after purchasing an additional 29,094 shares in the last quarter. Finally, Southpoint Capital Advisors LP boosted its position in Illumina by 20.0% during the first quarter. Southpoint Capital Advisors LP now owns 2,100,000 shares of the life sciences company’s stock valued at $258,846,000 after purchasing an additional 349,536 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

About Illumina

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.