Illumina stock should get boost after earnings.
Illumina stock should get a boost after beating earnings expectations. The biotech company beat analysts’ forecast of $1.02 by reporting an adjusted earnings per share of $1.45. Illumina Inc. revenue was $782M, which was higher than the consensus $743M.
While the stock price could fluctuate for a bit, Illumina stock could get very enticing for those interested in biotechnology. The company was founded in 1998 and are headquartered in San Diego, California.
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The shares of ILMN were trading down all day. This was due to the overall stock market. Company directors have been selling their shares lately. Biotech investors should not get worried about this. Some of these employees might need this money for their own lifestyle and not express their views of the company through their sales.
After this report, watch for many analysts to raise their price targets. ILMN will be continuing their surge in this space.
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