Illumina, Inc. (NASDAQ:ILMN) announced it has named one of the world’s top clinical genomics experts to head its clinical genomics unit. Garret Hampton, PhD, will join as Executive Vice President of Clinical Genomics for the company, starting January 9, 2017.
“This is a strategically important hire for Illumina,” said Francis deSouza, President and Chief Executive Officer of Illumina. “Garret has been on the front lines of oncology and brings deep expertise in clinical genomics to the leadership team, key to his new role leading our clinical genomics organization.”
Garret will be responsible for leading the clinical genomics group, including the reproductive and genetic health and oncology businesses, regulatory, clinical and medical affairs, CLIA labs, and the Chief Medical Officer’s organization. He joins Illumina from Genentech, Inc., where he was Global Head of Oncology Biomarker Development and Companion Diagnostics, co-led the Roche Personalized Medicine R&D Initiative and chaired the Roche/Foundation Medicine Joint R&D Committee. He previously held scientific and management roles at Celgene Corporation, Genomics Institute of the Novartis Research Foundation, and University of California at San Diego. Garret holds a BA in natural sciences and genetics and MA in natural sciences from Trinity College in Dublin, Ireland, and a PhD in cancer genetics from Imperial Cancer Research Fund and the University College London. (Original Source)
Shares of Illumina closed last Friday at $128.04. ILMN has a 1-year high of $188.25 and a 1-year low of $119.37. The stock’s 50-day moving average is $130.13 and its 200-day moving average is $150.70.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on December 19, UBS analyst Jon Groberg reiterated a Buy rating on ILMN, with a price target of $180, which represents a potential upside of 41% from where the stock is currently trading. Separately, on the same day, Canaccord Genuity’s Jason Mills reiterated a Hold rating on the stock and has a price target of $135.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jon Groberg and Jason Mills have a yearly average return of 8.3% and 4.2% respectively. Groberg has a success rate of 71% and is ranked #697 out of 4345 analysts, while Mills has a success rate of 53% and is ranked #471.
Sentiment on the street is mostly neutral on ILMN stock. Out of 14 analysts who cover the stock, 7 suggest a Hold rating , 4 suggest a Buy and 3 recommend to Sell the stock. The 12-month average price target assigned to the stock is $143.00, which implies an upside of 12% from current levels.
Illumina, Inc. develops, manufactures and markets integrated systems for the analysis of genetic variation and function. The company provides sequencing and array-based solutions for genetic analysis in addition to selling products, it provide genotyping, NIPT and whole-genome sequencing services. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, and reference laboratories as well as pharmaceutical, biotechnology, agrigenomics, commercial molecular diagnostic, and consumer genomics companies.