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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
mstone@fnno.com

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