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ILMN

Illumina

$318.91

4.47 (1.42%)

05:27
04/26/19
04/26
05:27
04/26/19
05:27

Illumina earnings selloff a buying opportunity, says Piper Jaffray

Piper Jaffray analyst William Quirk recommends using today's post-earnings pullback in shares of Illumina as an opportunity to add to positions. Shares are indicating lower as product revenue missed consensus expectations, but service revenue "was more than enough to offset the miss," Quirk tells investors in a post-earnings research note. While management reiterated 2019 revenue guidance, it shifted more revenue to the second half and raised earnings for the expected divestment of Helix, adds the analyst. He says that while "this was not a perfect Illumina quarter," the company did report additional PopSeq initiatives while the S prime flow cell is driving HiSeq conversions. Quirk raised his price target for Illumina shares to $387 from $384 and keeps an Overweight rating on the name.

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ILMN Illumina
$318.91

4.47 (1.42%)

04/23/19
ADAM
04/23/19
NO CHANGE
Target $360
ADAM
Buy
Illumina's setup into Q1 'favorable,' says Canaccord
Canaccord analyst Mark Massaro tells investors in a research note that he continues to like Illumina, despite the fact that the company expects growth to be more back-end loaded this year. He thinks the setup into Q1 is favorable as he believes Q1 and Q2 consensus revenue and earnings estimates are "reasonable." He maintains a Buy rating and $360 price target ahead of the company's Q1 report on Thursday after the close.
04/05/19
PIPR
04/05/19
NO CHANGE
Target $384
PIPR
Overweight
Piper confident into Illumina's Q1 report following channel checks
Piper Jaffray analyst William Quirk says his Q4 channel checks point toward in-line NovaSeq placements. However, large scale projects "continue to make headlines" and the analyst looks for these projects to drive "upside earlier-than expected." Further, his checks also showed some early adoption of the S-Prime chip. Quirk found 33 NovaSeqs in Q4, which suggests Illumina likely placed 66 in the quarter, in line with his 65 estimate. The analyst keeps an Overweight rating on the shares with a $384 price target and is confident heading into the Q1 report.
04/02/19
OTRG
04/02/19
DOWNGRADE
OTRG
Mixed
Illumina downgraded to Mixed from Positive at OTR Global
04/02/19
SPHN
04/02/19
DOWNGRADE
Target $8
SPHN
Equal Weight
Pacific Biosciences downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Drew Jones downgraded Pacific Biosciences of California (PACB) to Equal Weight from Overweight while raising his price target for the shares to $8 from $4.50. The shares are within 10% of the looming purchase price by Illumina (ILMN), Jones tells investors in a research note. He believes all public commentary suggests the deal remains on track to close in mid-2019.

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