Skip to main content

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

Possibly as Transmissible

Officials in the UK say the B.1.617.2 variant of SARS-CoV-2 may be as transmitted as easily as the B.1.1.7 variant that was identified in the UK, New Scientist reports.

Gene Therapy for SCID 'Encouraging'

The Associated Press reports that a gene therapy appears to be effective in treating severe combined immunodeficiency syndrome.

To Watch the Variants

Scientists told US lawmakers that SARS-CoV-2 variants need to be better monitored, the New York Times reports.

Nature Papers Present Nautilus Genome, Tool to Analyze Single-Cell Data, More

In Nature this week: nautilus genome gives peek into its evolution, computational tool to analyze single-cell ATAC-seq data, and more.