Shares of gene-sequencing giant Illumina (ILMN) tumbled to a nearly one-year low Thursday after the stock was downgraded and a competing product arrived earlier than expected. Leerink analyst Dan Leonard downgraded Illumina to market perform from outperform and lowered his price target to 185 from 225, as he did not see any near-term catalysts for the stock. Illumina stock was down 9.5% in afternoon trading in the stock market today, near 159. “We
Tech companies new to the IBD 50 list of top-rated growth stocks this week include IT services provider EPAM Systems (EPAM), genetic testing equipment and systems provider Illumina (ILMN) and China gaming site operator NetEase (NTES). Amazon.com (AMZN) remains the only tech on the IBD Leaderboard. With the market direction at “uptrend under pressure,” however, caution is warranted. Stocks fell broadly Monday on weak China economic data and
With stocks showing a volatility that hasn’t been seen in several years and bears saying, “I told you so,” investors in need of positive news can look to Ambarella (AMBA), Sucampo Pharmaceuticals (SCMP), D.R. Horton (DHI) and Illumina (ILMN), who have seen analysts raise their earnings estimates. Let’s take a look: Ambarella Earnings Due Tuesday Ambarella, which reports second-quarter earnings on Tuesday, is looking to continue its hot streak of