Illumina (ILMN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Kyle Mikson CFA from Canaccord Genuity maintained a Hold rating on the stock and has a $99.00 price target.
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Kyle Mikson CFA has given his Hold rating due to a combination of factors related to Illumina’s recent strategic moves and financial outlook. Illumina’s acquisition of SomaLogic from Standard BioTools is seen as a strategic step to enhance its capabilities in the proteomics field. The acquisition is expected to bring benefits such as improved commercialization potential and better integration of Illumina’s software with SomaLogic’s technology.
However, despite these strategic advantages, the acquisition does not significantly alter the overall financial outlook for Illumina. The anticipated financial impact, including minor dilution in 2026 and expected profitability by 2027, aligns with the company’s average margins. While the acquisition positions Illumina to compete effectively in the proteomics market, it does not substantially change the analyst’s thesis, leading to the reaffirmation of the Hold rating.
In another report released today, Bernstein also maintained a Hold rating on the stock with a $90.00 price target.
ILMN’s price has also changed moderately for the past six months – from $134.990 to $90.610, which is a -32.88% drop .