Illumina Announces Preliminary Revenue for Third Quarter of Fiscal Year 2015

Illumina (ILMN) PT Slashed to $137 at Goldman Sachs

Goldman Sachs analyst Isaac Ro reiterated a Neutral rating and slashed his price target on Illumina (NASDAQ: ILMN) to $137.00 (from $230.00) after a negative Q3 preannouncement.

Ro commented, "We maintain our Neutral rating but lower our price target to reflect our lower estimates and target multiple. In essence, we attribute the 3Q miss to a product... More

Canaccord Genuity Reiterates Buy on Illumina (ILMN) Following 3Q15 Preliminary Results

Canaccord Genuity reiterated a Buy rating and $250.00 price target on Illumina (NASDAQ: ILMN) following the company's preliminary 3Q15 earnings results. ILMN reported preliminary 3Q15 revenues of ~$550M compared to the Streets $569M, citing weakness in Asia and Europe and desktop sequencers.

Analyst... More

Piper Jaffray Cuts Price target on Illumina (ILMN) Following Preliminary 3Q15 Results

Piper Jaffray maintained an Overweight rating on Illumina (NASDAQ: ILMN), and cut the price target to $220.00 (from $230.00), following the announced preliminary 3Q15 results. Illumina issued results with revenue increasing ~14% yoy to $550M, below in-line $569.2M estimates and 3Q15 EPS below the Street's $0.83. Management attributed the miss to a... More

Illumina (ILMN) PT Lowered to $200 at UBS; Says May Be Time to Buy

UBS analyst Jonathan Groberg lowered his price target on Illumina (NASDAQ: ILMN) to $200.00 (from $250.00) after the company's negative pre-announcement but maintained a Buy rating.

Groberg noted sequencing consumables and instrument sales for the HiSeq family were strong, although desktop sales (e.g. MiSeq & NextSeq) were softer than expected. Geographically, instrument sales were particularly weak in Europe and Japan. Management blamed much of the miss on poor execution in... More

BTIG Downgrades Illumina (ILMN) to Neutral

BTIG downgraded Illumina (NASDAQ: ILMN) from Buy to Neutral. The change follows the release of below consensus preliminary Q3 results.

Analyst Dane Leone said, "Expected 3Q15 revenues of $550m were -$19m below consensus, and guidance for 4Q15 revenues of $570m was -$30m below... More

Mizuho Securities Downgrades Illumina (ILMN) to Neutral

Mizuho Securities downgraded Illumina (NASDAQ: ILMN) from Buy to Neutral with a price target of $150.00 (from $250.00) following the company's negative 3Q and 4Q pre-announcement, which was driven by desktop weakness.

Analyst Eric Criscuolo commented, "While we saw near-term risks around strong comps,... More