SVB Securities Remains a Buy on Illumina (ILMN)

In a report released on November 4, Puneet Souda from SVB Securities reiterated a Buy rating on Illumina (ILMNResearch Report), with a price target of $270.00. The company’s shares closed last Friday at $224.36.

Souda covers the Healthcare sector, focusing on stocks such as Illumina, Castle Biosciences, and Agilent. According to TipRanks, Souda has an average return of -12.2% and a 35.44% success rate on recommended stocks.

In addition to SVB Securities, Illumina also received a Buy from Canaccord Genuity’s Kyle Mikson CFA in a report issued on November 4. However, on the same day, Barclays maintained a Sell rating on Illumina (NASDAQ: ILMN).

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Based on Illumina’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.16 billion and a GAAP net loss of $535 million. In comparison, last year the company earned a revenue of $1.13 billion and had a net profit of $185 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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