Illumina (ILMN) Receives a Buy from Credit Suisse

By Austin Angelo

In a report released yesterday, Lorenzo Biasio from Credit Suisse maintained a Buy rating on Illumina (ILMNResearch Report), with a price target of $340. The company’s shares closed yesterday at $299.38.

According to TipRanks.com, Biasio is a 3-star analyst with an average return of 3.2% and a 58.2% success rate. Biasio covers the Healthcare sector, focusing on stocks such as Clovis Oncology, Merck & Company, and Thermo Fisher.

Illumina has an analyst consensus of Moderate Buy, with a price target consensus of $328.30, a 9.7% upside from current levels. In a report issued on July 18, Argus Research also maintained a Buy rating on the stock with a $340 price target.

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Based on Illumina’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $838 million and net profit of $296 million. In comparison, last year the company earned revenue of $830 million and had a net profit of $209 million.

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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).