RBC Capital has decided to maintain its Outperform rating of Illumina ILMN and lower its price target from $303.00 to $300.00.
Shares of Illumina are trading down 1.65% over the last 24 hours, at $222.15 per share.
A move to $300.00 would account for a 35.04% increase from the current share price.
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (less than 10% of sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
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