“We would buy ILMN right here, as ILMN, the dominant leader in sequencing, is powering huge population sequencing projects around the world at a scale never seen before. Recent news flow (below) bolsters our confidence in near-and-longer term strength in ILMN consumables growth, which we believe marks upside to our near and out-year revenue projections. We expect an ongoing flow of new projects in 1) country-sponsored population sequencing studies; 2) tissue-based cancer testing; 3) blood-based cancer studies and patient testing (“liquid biopsies”); 4) consumer-ordered (DTC) genetic testing (powered by ILMN genotyping and whole-exome sequencing); 5) physician-ordered prenatal and carrier screening testing; and 6) a rise in single-cell sequencing work (led by 10x Genomics). We reiterate our BUY rating on ILMN and $375 PT.”
According to TipRanks.com, Massaro is a 5-star analyst with an average return of 16.6% and a 60.2% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Quanterix Corporation, and Idexx Laboratories.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Illumina with a $351.18 average price target, implying a 14.2% upside from current levels. In a report issued on October 2, Piper Jaffray also maintained a Buy rating on the stock with a $380 price target.
Illumina’s market cap is currently $45.2B and has a P/E ratio of 70.17. The company has a Price to Book ratio of 13.88.
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Illumina, Inc. engages in the development and manufacture of integrated systems for the analysis of genetic variation and function. It operates through the Core Illumina and Consolidated Variable Interest Entity segments (VIE).