Leerink Partners raised its price target on Illumina to $300 from $220 and maintained an Outperform rating. The move comes amid increased investor attention, including recent options activity and Illumina’s removal from the Russell Small Cap Comp Value Index.
Illumina’s shares have returned 26.12% over the past 30 days. The stock is up more than 100% year to date, prompting traders to debate whether the rally signals a longer-term trend or whether much of the valuation upside has already been realized.
Separately, ETF trading analysis showed net selling of Illumina shares on September 25.