Skip to main content
Premium Trial:

Request an Annual Quote

Citigroup Initiates Coverage of Illumina with 'Hold' Rating

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Citigroup has initiated coverage of Illumina with a "hold" rating on its stock and a price target of $52.

The bank said that its rating is based on Illumina's valuation relative to peers and added that its year-to-date stock performance, which is up nearly 50 percent, reflects the firm's positive growth prospects for its sequencing business but may not fairly discount the risk from its competitors.

Citigroup placed a 2010 earnings-per-share estimate on Illumina of $1, equal to analysts' consensus estimate.

In Wednesday afternoon trade on the Nasdaq, shares of Illumina were up 1 percent at $43.95.

The Scan

Support for Moderna Booster

An FDA advisory committee supports authorizing a booster for Moderna's SARS-CoV-2 vaccine, CNN reports.

Testing at UK Lab Suspended

SARS-CoV-2 testing at a UK lab has been suspended following a number of false negative results.

J&J CSO to Step Down

The Wall Street Journal reports that Paul Stoffels will be stepping down as chief scientific officer at Johnson & Johnson by the end of the year.

Science Papers Present Proteo-Genomic Map of Human Health, Brain Tumor Target, Tool to Infer CNVs

In Science this week: gene-protein-disease map, epigenomic and transcriptomic approach highlights potential therapeutic target for gliomas, and more