Bank of America Securities Reaffirms Their Sell Rating on Illumina (ILMN)

In a report released today, Michael Ryskin from Bank of America Securities maintained a Sell rating on Illumina, with a price target of $85.00.

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Ryskin covers the Healthcare sector, focusing on stocks such as Illumina, Elanco Animal Health, and Zoetis. According to TipRanks, Ryskin has an average return of 2.7% and a 51.49% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for Illumina with a $129.81 average price target.

Based on Illumina’s latest earnings release for the quarter ending December 28, the company reported a quarterly revenue of $1.16 billion and a net profit of $334 million. In comparison, last year the company earned a revenue of $1.1 billion and had a net profit of $187 million

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ILMN in relation to earlier this year. Last month, Scott M Davies, the CLO of ILMN sold 1,336.00 shares for a total of $155,216.48.