Illumina (ILMN) Stock Forecast & Price Target

Illumina demonstrated positive growth, with clinical consumables revenue increasing in the mid-single digits year-over-year, highlighting strong demand for its sequencing tools. The MiSeq i100 Plus has successfully attracted new customers to the sequencing market, further indicating a solid clinical momentum. Additionally, the company raised its non-GAAP diluted EPS guidance to a range of $4.45-4.55, reflecting improved financial performance expectations and favorable funding outlooks from China and the NIH.

Illumina's financial outlook is concerning, as the company anticipates a decrease in constant currency revenue of 1.5-2.5% year-over-year for the third quarter of 2025, with reported revenue guidance between $1.06 billion to $1.07 billion, marking a projected decline at the midpoint. Additionally, while sequencing consumables are expected to experience modest growth excluding China of 1-3%, the company faces a significant revenue decline in sequencing instruments, projected at 4-6% year-over-year. Coupled with fewer shipments of the NovaSeq X compared to both the first quarter of 2025 and prior year levels, these factors contribute to a negative outlook for Illumina's stock performance.