Illumina, Inc. (NASDAQ:ILMN) announced the appointment of Jonathan Seaton as Senior Vice President for Corporate & Business Development, further strengthening its executive team as the company continues reinforcing the foundation for long-term growth. Jonathan will join Illumina on January 3, 2017.
“Jonathan is a strong leader with an established track record of successful strategic planning and business development in the clinical and life sciences space,” said Marc Stapley, Executive Vice President and Chief Administrative Officer of Illumina. “The proven critical thinking he brings to Illumina coupled with his comprehensive understanding of the markets we address make him a great addition to our executive team.”
Jonathan will be responsible for global business development activities, including strategic commercial deals, mergers and acquisitions, licensing and partnerships. He joins Illumina from Becton, Dickinson and Company where he was Vice President and Head of Strategy and Business Development for the Life Sciences segment. He previously held leadership roles at F. Hoffman-La Roche, Roche Tissue Diagnostics, LS9, and several consulting firms and investment banks. Jonathan studied medicine at the University of Manchester, received a BSc degree in Molecular Biology and Biochemistry from the University of Durham, and an MBA from the Saïd Business School at the University of Oxford. (Original Source)
Shares of Illumina are currently rising 0.12% to $129.80, or up $0.15in pre-market trading Tuesday. ILMN has a 1-year high of $196.47 and a 1-year low of $119.37. The stock’s 50-day moving average is $132.39 and its 200-day moving average is $151.37.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report released yesterday, UBS analyst Jon Groberg reiterated a Buy rating on ILMN, with a price target of $180, which represents a potential upside of 39% from where the stock is currently trading. Separately, on December 7, Morgan Stanley’s Steve Beuchaw reiterated a Sell rating on the stock and has a price target of $100.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jon Groberg and Steve Beuchaw have a yearly average return of 8.1% and 5.6% respectively. Groberg has a success rate of 75% and is ranked #622 out of 4288 analysts, while Beuchaw has a success rate of 56% and is ranked #1162.
Overall, 3 research analysts have rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $145.00 which is 11.8% above where the stock closed yesterday.
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.