Stock Update (NASDAQ:ILMN): Illumina, Inc. Names Pensabio as New Distributor for Brazil

Illumina, Inc. (NASDAQ:ILMN) announced it has named Pensabio, a life science, analytical instruments and diagnostics distributor, headquartered in Sao Paolo, Brazil, as its new distribution partner to deliver Illumina sequencing platforms, products and solutions in Brazil.

“Pensabio was selected to distribute Illumina products because of its strong presence and reputation as an excellent provider of instruments and services in Brazil,” said Vice President and General Manager Mark Van Oene of Americas Commercial Operation at Illumina.  “Through the synergy of this partnership we will transform our services and better meet the growing market demands for our Brazilian customers.”

Pensabio is now taking orders from customers in Brazil. Customers will have full access to Illumina’s best-in-class products and services, including the world’s most comprehensive next-generation sequencing systems, assays, and core consumables.

Pensabio will leverage its extensive experience in logistical support, technical expertise in analytical instrumentation, and network to deliver a faster turnaround time, enhanced customer experience and user-friendly ordering process.  (Original Source)

Shares of Illumina opened today at $205.78 and are currently trading down at $204.485. ILMN has a 1-year high of $213.33 and a 1-year low of $145.12. The stock’s 50-day moving average is $195.38 and its 200-day moving average is $192.00.

On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on May 26, BTIG analyst Dane Leone reiterated a Buy rating on ILMN, with a price target of $240, which represents a potential upside of 16.6% from where the stock is currently trading. Separately, on April 22, Cantor Fitzgerald’s Sung Ji Nam maintained a Hold rating on the stock and has a price target of $169.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Dane Leone and Sung Ji Nam have a total average return of 10.1% and 13.4% respectively. Leone has a success rate of 75.0% and is ranked #801 out of 3610 analysts, while Nam has a success rate of 72.1% and is ranked #529.

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.

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