The stock of Illumina, Inc. (NASDAQ:ILMN) gapped down by $43.39 today and has $126.69 target or 9.00% below today’s $139.22 share price. The 9 months technical chart setup indicates high risk for the $20.42B company. The gap down was reported on Oct, 11 by Barchart.com. If the $126.69 price target is reached, the company will be worth $1.84 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 10.34 million shares traded hands or 1105.26% up from the average. Illumina, Inc. (NASDAQ:ILMN) has risen 22.88% since March 8, 2016 and is uptrending. It has outperformed by 13.56% the S&P500.
Analysts await Illumina, Inc. (NASDAQ:ILMN) to report earnings on October, 18. They expect $0.91 earnings per share, up 13.75% or $0.11 from last year’s $0.8 per share. ILMN’s profit will be $133.47M for 38.25 P/E if the $0.91 EPS becomes a reality. After $0.86 actual earnings per share reported by Illumina, Inc. for the previous quarter, Wall Street now forecasts 5.81% EPS growth.
Illumina, Inc. (NASDAQ:ILMN) Ratings Coverage
Out of 21 analysts covering Illumina Inc (NASDAQ:ILMN), 8 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 38% are positive. Illumina Inc has been the topic of 40 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Wednesday, August 26 the stock rating was upgraded by Citigroup to “Focus List”. The company was maintained on Tuesday, October 6 by Piper Jaffray. The firm has “Hold” rating by Cantor Fitzgerald given on Tuesday, April 19. As per Tuesday, April 19, the company rating was downgraded by Bank of America. The firm earned “Neutral” rating on Monday, August 22 by CL King. The firm has “Market Perform” rating given on Thursday, October 1 by Leerink Swann. On Wednesday, October 21 the stock rating was maintained by Piper Jaffray with “Overweight”. The rating was maintained by Morgan Stanley with “Equal-Weight” on Tuesday, May 3. The stock of Illumina, Inc. (NASDAQ:ILMN) has “Neutral” rating given on Tuesday, October 6 by Goldman Sachs. The firm earned “Equal-Weight” rating on Tuesday, October 13 by Barclays Capital.
According to Zacks Investment Research, “Illumina Inc. is a leading developer of next-generation tools for the large-scale analysis of genetic variation and function. The company’s tools will provide information that could be used to improve drugs and therapies, customize diagnoses and treatment, and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine.”
Insitutional Activity: The institutional sentiment decreased to 1.1 in Q2 2016. Its down 0.03, from 1.13 in 2016Q1. The ratio fall, as 66 funds sold all Illumina, Inc. shares owned while 150 reduced positions. 46 funds bought stakes while 191 increased positions. They now own 137.98 million shares or 3.82% less from 143.46 million shares in 2016Q1.
Sumitomo Mitsui Holdg holds 404,685 shares or 0.1% of its portfolio. Wellington Shields Cap Mgmt Ltd Liability Company has invested 0.31% of its portfolio in Illumina, Inc. (NASDAQ:ILMN). Cibc World Markets Corp has 9,916 shares for 0.04% of their US portfolio. First Mercantile Tru has 8,350 shares for 0.15% of their US portfolio. Massmutual Tru Fsb Adv last reported 30 shares in the company. Temasek Holding (Private) Limited holds 0.3% of its portfolio in Illumina, Inc. (NASDAQ:ILMN) for 277,261 shares. Aviva Public Ltd Liability Corporation holds 88,276 shares or 0.08% of its portfolio. Oakworth Cap Inc accumulated 21 shares or 0% of the stock. Employees Retirement System Of Texas has invested 0.01% of its portfolio in Illumina, Inc. (NASDAQ:ILMN). Dnb Asset Mngmt As, a Norway-based fund reported 11,489 shares. Gabelli Funds Lc has 0.01% invested in the company for 11,400 shares. New Jersey Better Educational Savings Trust has 3,500 shares for 0.33% of their US portfolio. Omers Administration accumulated 0.01% or 2,100 shares. Silvercrest Asset Grp Limited Liability has invested 0.01% of its portfolio in Illumina, Inc. (NASDAQ:ILMN). Teacher Retirement Systems Of Texas owns 123,121 shares or 0.12% of their US portfolio.
Insider Transactions: Since April 12, 2016, the stock had 0 buys, and 29 sales for $18.01 million net activity. 2,141 Illumina, Inc. (NASDAQ:ILMN) shares with value of $309,867 were sold by HENRY CHRISTIAN O. The insider FLATLEY JAY T sold $1.50M. Another trade for 300 shares valued at $51,081 was made by EPSTEIN ROBERT S on Monday, August 22. On Thursday, April 14 the insider BOWMAN A BLAINE sold $864,700. WHITFIELD ROY A sold $533,672 worth of Illumina, Inc. (NASDAQ:ILMN) on Monday, June 13. Another trade for 116 shares valued at $19,489 was made by Dadswell Charles on Tuesday, September 6. Stapley Marc sold $219,543 worth of stock or 1,270 shares.
More notable recent Illumina, Inc. (NASDAQ:ILMN) news were published by: Fool.com which released: “Why Illumina, Inc. Is Plunging Today” on October 11, 2016, also Investorplace.com with their article: “3 Stocks to Watch Tuesday: Illumina, Inc. (ILMN), Seagate Technology PLC (STX …” published on October 11, 2016, Businesswire.com published: “Illumina Announces Preliminary Revenue for Third Quarter of Fiscal Year 2016” on October 10, 2016. More interesting news about Illumina, Inc. (NASDAQ:ILMN) were released by: Marketwatch.com and their article: “Illumina cuts Q3 revenue estimates, shares down 23%” published on October 10, 2016 as well as Benzinga.com‘s news article titled: “Mid-Day Market Update: Rent-A-Center Drops On Disappointing Q3 Outlook; Nymox …” with publication date: October 11, 2016.
ILMN Company Profile
Illumina, Inc. (Illumina), incorporated on May 16, 2000, offers sequencing and array solutions for genetic analysis. The Company’s services and products serve clients in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s clients include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies. Illumina provides sample-to-answer solutions to its clients in various areas of translational and clinical genomics, such as reproductive and genetic health, and oncology. Illumina provides reproductive-health solutions, including preimplantation genetic screening and diagnosis (PGS and PGD), noninvasive prenatal testing (NIPT), and neonatal and genetic health testing. The Company’s BaseSpace platform, which can be hosted onsite or in the cloud, integrates directly with its sequencing instruments, facilitates data sharing, provides data-storage solutions and streamlines analysis. It has activities in the United States, Europe, Asia-Pacific and other markets.
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