Illumina (ILMN) Stock Forecast & Price Target

Illumina's clinical consumables revenue showed a mid-single-digit year-over-year growth, demonstrating positive traction in the market, particularly with the continued adoption of the MiSeq i100 Plus by new sequencing customers. The company's enhanced guidance for non-GAAP diluted EPS, which has been revised upward to a range of $4.45 to $4.55, reflects improved financial performance and a favorable outlook bolstered by recent legislative developments in the U.S. Additionally, the optimism surrounding improved funding prospects in China and from the National Institutes of Health (NIH) further strengthens Illumina's future growth potential.

Illumina's revenue guidance for the third quarter of 2025 indicates a projected decline of 1.5-2.5% year-over-year, reflecting a challenging operational environment. The expected revenue growth for sequencing consumables, while slightly improved, is overshadowed by a more significant forecasted decline of 4-6% in instruments, emphasizing weakened demand for high-throughput technologies. Additionally, the notable decrease in NovaSeq X shipments compared to both the previous quarter and the same period last year raises concerns about the company's sales momentum and overall market performance.