Bank of America Securities analyst Michael Ryskin has maintained their bearish stance on ILMN stock, giving a Sell rating today.
Michael Ryskin has given his Sell rating due to a combination of factors impacting Illumina’s financial outlook. The company has recently adjusted its fiscal year 2025 earnings per share guidance to the lower end of its previous range, primarily due to anticipated reductions in revenue from its Greater China business. This adjustment reflects the potential impact of China’s instrument import ban, which is expected to significantly decrease Illumina’s earnings contribution from the region.
Additionally, Ryskin highlights other ongoing challenges for Illumina, such as concerns over National Institutes of Health funding levels and heightened competition from companies like Roche. These elements pose further risks to the company’s financial performance. While Illumina’s cost-saving measures aim to mitigate some of these challenges, Ryskin suggests that these cuts may hinder the company’s long-term growth prospects. Consequently, the combination of these structural and competitive pressures supports his decision to maintain a Sell rating.
In another report released today, Barclays also maintained a Sell rating on the stock with a $100.00 price target.
ILMN’s price has also changed moderately for the past six months – from $124.130 to $85.970, which is a -30.74% drop .
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