Illumina (ILMN) Gets a Buy Rating from Canaccord Genuity

Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Illumina (NASDAQ: ILMN) yesterday and set a price target of $375. The company’s shares closed yesterday at $307.45.

Massaro commented:

“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, 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.


See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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).

From Our Partners