In a report released yesterday, Lorenzo Biasio from Credit Suisse maintained a Buy rating on Illumina (ILMN – Research Report), with a price target of $360. The company’s shares opened today at $318.32.
According to TipRanks.com, Biasio is a 3-star analyst with an average return of 4.0% and a 60.8% success rate. Biasio covers the Healthcare sector, focusing on stocks such as Coherus Biosciences, Thermo Fisher, and Mylan Inc.
Currently, the analyst consensus on Illumina is a Strong Buy with an average price target of $359.25, implying a 12.9% upside from current levels. In a report issued on April 23, Canaccord Genuity also maintained a Buy rating on the stock with a $360 price target.
Based on Illumina’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $846 million and net profit of $233 million. In comparison, last year the company earned revenue of $782 million and had a net profit of $208 million.
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Illumina, Inc. engages in the development and manufacture of integrated systems for the analysis of genetic variation and function. It operates through the Core Illumina and Consolidated Variable Interest Entity segments (VIE).