Piper Jaffray Analyst Reiterates No Change to Overweight Target on Illumina, Inc. (ILMN)

Piper Jaffray analyst William Quirk gives his insights Illumina, Inc. (NASDAQ:ILMN), reiterating an Overweight rating and maintaining his price target $161.

The analyst does not believe the healthcare company’s share price will increase following its Q2 report earnings, based on his revenue estimates of $1 million.

Power feels that ILMN’s sequencing platforms have great potential, despite under-performing in the quarter. The company sold 23 sequencing instruments, below his estimate of 26.

According to TipRanks, of the 13 analysts who have rated the company in the past 3 months, 46% gave a Buy rating, 46% gave a Hold rating and 2% gave a Sell rating. The average 12-month price target for the stock is $158.09, marking an 8.38% upside from current levels.

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