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Investing.com - Canaccord Genuity raised its price target on Illumina (NASDAQ:ILMN) to $112.00 from $105.00 while maintaining a Hold rating following the company’s third-quarter results. The new target represents a 13.6% upside from Illumina’s current trading price of $98.60, though the stock has fallen 34.28% year-to-date according to InvestingPro data.
Illumina reported better-than-expected third-quarter 2025 results after market close on Thursday, October 30, exceeding both analyst estimates and FactSet consensus projections.
The company shipped more NovaSeq X instruments compared to the second quarter of 2025, with shipments relatively in line with year-earlier levels, while clinical consumables revenue accelerated to 12% year-over-year growth as clinical customers transition to the NovaSeq X platform. This positive segment performance comes despite Illumina’s overall revenue of $4.28 billion showing a 3.27% decline over the last twelve months, with the company maintaining a FAIR financial health score of 2.3 according to InvestingPro metrics.
Illumina has successfully achieved its high-throughput transition targets and increased its revenue guidance partly due to strong quarterly performance, with management expecting 2026 end market trends to mirror those of 2025, particularly the second half.
Canaccord Genuity noted that while Illumina’s clinical momentum remains solid, with potential easing of NIH funding issues in 2026 and promising multiomics initiatives, the firm maintains its Hold rating until Illumina demonstrates material execution on its multiomics strategy, sustained operating margin expansion, and reaccelerated revenue growth despite ongoing headwinds.
In other recent news, Illumina Inc reported third-quarter results that surpassed analyst expectations. The company posted adjusted earnings per share of $1.34, significantly exceeding the consensus estimate of $1.17. Revenue for the quarter was $1.08 billion, slightly above the anticipated $1.07 billion and consistent with the same period last year. Additionally, Illumina raised its full-year outlook, signaling confidence in its future performance. These developments have caught the attention of investors and analysts alike. The earnings beat and revised guidance are notable highlights in the company’s recent updates.
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