TipRanksStock Market NewsILMN NewsLeerink Partners Remains a Buy on Illumina (ILMN)

Leerink Partners Remains a Buy on Illumina (ILMN)

Leerink Partners analyst Puneet Souda maintained a Buy rating on Illumina (ILMNResearch Report) on July 22. The company’s shares closed last Wednesday at $492.22.

According to TipRanks.com, Souda is a 5-star analyst with an average return of 18.8% and a 66.1% success rate. Souda covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, AbCellera Biologics, and Castle Biosciences.

Currently, the analyst consensus on Illumina is a Moderate Buy with an average price target of $442.50, which is a -9.0% downside from current levels. In a report issued on July 14, Canaccord Genuity also maintained a Buy rating on the stock with a $515.00 price target.

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Based on Illumina’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.09 billion and net profit of $147 million. In comparison, last year the company earned revenue of $859 million and had a net profit of $173 million.

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Incorporated in 1998, Illumina, Inc. is a California-based company which develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function. Its products and services serve customers in the research, clinical and applied markets, and enable the adoption of a variety of genomic solutions. The company’s products include microarray scanners, sequencing reagents, and onsite training selector. Its services include sequencing and microarray services; proactive instrument monitoring; and instrument services, training, and consulting.

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