Illumina (ILMN) Stock Forecast & Price Target

Illumina has demonstrated robust growth in its clinical consumables revenue, with an increase in the mid-single digits year-over-year, supported by the successful adoption of the MiSeq i100 Plus by new customers. The company has raised its non-GAAP diluted EPS guidance to a range of $4.45 to $4.55, reflecting positive changes in its operational outlook. Additionally, improved funding prospects from NIH and the Chinese market are contributing to a favorable long-term financial outlook for Illumina.

Illumina's revenue outlook is unfavorable, with expectations of a constant currency revenue decline of 1.5-2.5% year-over-year in the third quarter of 2025, reflecting a midpoint revenue guidance of $1.06-1.07 billion. The company is experiencing a significant decline in constant currency instrument sales, projected to decrease by 4-6% year-over-year, while growth in sequencing consumables is limited, anticipated at only 1-3% excluding China. Furthermore, a notable reduction in NovaSeq X shipments suggests a weakening demand for its high-throughput sequencing technology, raising concerns about the company's overall revenue generation capacity.