Illumina, Inc. (NASDAQ:ILMN) announced it has completed the acquisition ofGenoLogics Life Science Software Inc., a developer of industry leading laboratory information management systems (LIMS) for life sciences organizations.
“We look forward to working with the talented team at GenoLogics and to further integrate their life science software as part of the overallIllumina informatics solution,” said Francis deSouza, President of Illumina. “Adopted by more than 120 genomic labs worldwide, GenoLogics’s Clarity LIMS software strengthens our industry leading portfolio of genetic analysis solutions.”
The completion of the acquisition demonstrates Illumina’s commitment to drive the adoption of sequencing in new markets and improve the genomic workflow. GenoLogics’ Clarity LIMS™ software enables lab efficiencies and improved sample throughput with increased accuracy, fast turnaround, sample traceability, and preconfigured instrument integrations. (Original Source)
Shares of Illumina closed yesterday at $197.61. ILMN has a 1-year high of $242.37 and a 1-year low of $145.12. The stock’s 50-day moving average is $213.55 and its 200-day moving average is $203.52.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on August 26, Cantor Fitzgerald analyst Sung Ji Nam initiated coverage with a Buy rating on ILMN and a price target of $265, which represents a potential upside of 34.1% from where the stock is currently trading. Separately, on August 20, Canaccord Genuity’s Mark Massaro reiterated a Buy rating on the stock and has a price target of $250.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Sung Ji Nam and Mark Massaro have a total average return of 4.0% and -7.9% respectively. Nam has a success rate of 60.4% and is ranked #1235 out of 3742 analysts, while Massaro has a success rate of 30.9% and is ranked #3616.
Illumina Inc providessequencing-and array-based solutions for genetic analysis. Itsproducts enabled researchers to explore DNA, helping them create the first map of gene variations associated with health, disease, and drug response.