Illumina (ILMN) Stock Forecast & Price Target

Illumina has demonstrated positive financial performance, highlighted by a mid-single-digit year-over-year increase in clinical consumables revenue, indicating growing demand in its core offerings. The introduction of the MiSeq i100 Plus has successfully attracted new customers to the sequencing market, further enhancing the company's growth trajectory. Additionally, Illumina has raised its non-GAAP diluted EPS guidance to a range of $4.45 to $4.55, reflecting improved expectations for profitability driven by increased clinical momentum and favorable funding outlooks from China and the National Institutes of Health (NIH).

Illumina is projecting a year-over-year revenue decline of 1.5-2.5% for the third quarter of 2025, with guidance indicating a reported revenue range of $1.06-1.07 billion, reflecting a 1% decline at the midpoint. The company has also revised expectations for its sequencing consumables, forecasting growth to be limited to 1-3% excluding China, while anticipating a more significant decline of 4-6% for sequencing instruments over the same period. Additionally, Illumina reported a meaningful decrease in NovaSeq X shipments compared to both the first quarter of 2025 and the prior year, further indicating weakening demand for its high-throughput sequencing technology.