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Analyst Rating Flashback: Illumina Up 6.4% Since Upgraded 7 Days Ago (ILMN)

Published on Fri, 03/08/2013 - 10:11
By Mallory Stone

Illumina was upgraded from Neutral to Buy by UBS one week ago. Illumina shares are selling at $53.33, 6.4% above the $50.13 price point of one week ago.

Illumina share prices have moved between a 52-week high of $79.40 and a 52-week low of $25.57 and are now trading 109% above that low price at $53.47 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.2%.

Illumina has overhead space with shares priced $53.47, or 2.3% below the average consensus analyst price target of $54.73. The stock should discover initial support at its 50-day moving average (MA) of $51.64 and subsequent support at its 200-day MA of $46.98.

Illumina, Inc. develops, manufactures and markets integrated systems for the large scale analysis of genetic variation and biological function. The Company provides a comprehensive line of products and services that currently serve the sequencing, genotyping and gene expression markets for genomic research centers, pharmaceutical companies, academic institutions and biotechnology companies.

By Mallory Stone