Illumina, Inc. (NASDAQ:ILMN) announced that the company has filed a new patent infringement suit againstAriosa Diagnostics, Inc. and its parent company, Roche Molecular Systems, Inc. Illumina is seeking all available remedies.
The new suit, filed in the U.S. District Court for the Northern District of California, is based on Ariosa’s infringement of U.S. Patent No. 7,955,794 (the ‘794 patent), entitled “Multiplex Nucleic Acid Reactions.” The suit is focused on Ariosa’s Microarray-based version of its Harmony™ Prenatal Test.
Illumina and its wholly owned subsidiary, Verinata Health, Inc., previously filed suits in the U.S. District Court for the Northern District of California against Ariosa accusing its Sequencing-based version of the Harmony Prenatal Test of infringing the ‘794 patent and U.S. Patent No. 8,296,076 and U.S. Patent No. 8,318,430. Those previous suits remain pending. (Original Source)
Shares of Illumina closed today at $200.76, up $1.69 or 0.85%. ILMN has a 1-year high of $213.33 and a 1-year low of $140.60. The stock’s 50-day moving average is $189.83 and its 200-day moving average is $190.84.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on April 24, BTIG analyst Dane Leone reiterated a Buy rating on ILMN, with a price target of $240, which represents a potential upside of 20.9% from where the stock is currently trading. Separately, on April 22, Mizuho’s Peter Lawson reiterated a Buy rating on the stock and has a price target of $230.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Dane Leone and Peter Lawson have a total average return of 10.8% and 13.9% respectively. Leone has a success rate of 75.8% and is ranked #796 out of 3604 analysts, while Lawson has a success rate of 60.8% and is ranked #484.
Illumina Inc providessequencing-and array-based solutions for genetic analysis. Itsproducts enabled researchers to explore DNA, helping them create the first map of gene variations associated with health, disease, and drug response.