Illumina (ILMN) Stock Forecast & Price Target

Illumina reported a year-over-year increase in clinical consumables revenue in the mid-single digits, indicating steady growth in its core product line. The MiSeq i100 Plus is successfully attracting new customers to sequencing, reinforcing the company’s market position and enhancing its revenue potential. Additionally, the company raised its non-GAAP diluted EPS guidance to a range of $4.45 to $4.55, reflecting increased confidence in its financial performance driven by clinical momentum and improved funding outlooks.

Illumina's financial outlook is adversely impacted by projected constant currency revenue declines of 1.5-2.5% year-over-year in the third quarter of 2025, driven primarily by a decrease in revenue from high-throughput sequencing instruments, which is expected to fall by 4-6%. Additionally, the company's guidance indicates minimal growth in sequencing consumables, with year-over-year revenue growth excluding China remaining stagnant at 1-3%. Furthermore, the significant drop in shipments of the NovaSeq X platform signals potential weakening demand in a critical segment of Illumina's product line, raising concerns about future revenue performance.