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

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

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

Illumina (ILMN) Announces Expanded HiSeq X Sequencing System Rights for non-Human Species

Illumina (Nasdaq: ILMN) announced it has expanded the rights of use for the HiSeq X Sequencing System to allow customers to perform whole-genome sequencing of non-human species. The updated rights of use will take effect immediately for existing customers of the HiSeq X Ten and HiSeq X Five, and will apply to all new customers of the sequencing systems.

Driven by the worlds first $1,000 human... 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

Leerink Trims PT on Illumina (ILMN) to $185 Following Negative Q3 Preannouncement

Leerink trims its price target on Market Perform-rated Illumina (Nasdaq: ILMN) from $185 down to $155 following cut Q3, FY15 guidance issued Monday night.

Analyst Dan Leonard commented, We believe any read through from ILMNs results to the broader tools group will be modest at best. The analyst also... More

After Hours Stocks Movers 10/05: (STRZA) (RGLS) (LGF) Higher; (EXAS) (ILMN) (TCS) (more...)

Exact Sciences (NASDAQ: EXAS) 30% LOWER; said related to USPSTF update on colorectal cancer screening.

Illumina (NASDAQ: ILMN) 14.4% LOWER; announced estimated third quarter revenue of approximately $550 million, a 14% increase compared to $481 million in the third quarter of 2014 and 18% growth on a constant currency basis. This estimate, which is unaudited, is based on management's preliminary financial analysis. *** The Street sees Q3 revenue of $570 million. Demand for sequencing consumables and the HiSeq family of instruments remained strong during the quarter, while... More

Market Wrap: Twitter Affirms Dorsey as CEO; DuPont CEO Kullman to Step Down; Peltz Gets Active on GE

Market wrap for October 5th

End of the Day: S&P 500 up 36.0 to 1,987.05; Dow Jones up 304.1 to 16,776.43; Nasdaq up 73.5 to 4,781.26

Market Brief: U.S. markets rose Monday following last Friday's nonfarm jobs report, with weaker numbers hinting that the Fed might delay its rate hike.

Twitter officially named Jack Dorsey as its permanent CEO.

Nelson Peltz's Trian Fund took a 1 percent stake in General Electric.

BP and the U.S. settled over the 2010 oil spill in... More

Illumina (ILMN) Prelim. Q3 Revenue Misses Expectations; Guides Q4 Revenue Below Consensus

Illumina (NASDAQ: ILMN) announced estimated third quarter revenue of approximately $550 million, a 14% increase compared to $481 million in the third quarter of 2014 and 18% growth on a constant currency basis. This estimate, which is unaudited, is based on management's preliminary financial analysis.

*** The Street sees Q3 revenue of $570 million.

Demand for sequencing consumables and the HiSeq family of instruments remained strong during the quarter, while instrument sales in the desktop family... More