NEW YORK (

TheStreet

) -- Shares of

Illumina

(Nasdaq:

ILMN

) were gapping up Wednesday morning with an open price 39.9% higher than Tuesday's closing price. The stock closed at $37.68 Tuesday and opened today's trading at $52.71.

The average volume for Illumina has been 2.7 million shares per day over the past 30 days. Illumina has a market cap of $4.41 billion and is part of the

health care

sector and

drugs

industry. Shares are up 23.6% year to date as of the close of trading on Tuesday.

Illumina, Inc. develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function. The company has a P/E ratio of 46.6, above the average drugs industry P/E ratio of 46 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Illumina as a

hold

. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and unimpressive growth in net income. You can view the full

Illumina Ratings Report

.

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