Leerink On Illimina (ILMN): Believes Performance Metrics Will Add Further Capacity Into The Market
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Rating Summary:
16 Buy, 19 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Leerink Partners maintains Market Perform on Illumina (NASDAQ: ILMN), price target of $132.00 (from $114.00)
Analyst Punnet Souda comments "We believe that adding further capacity - even with a major upgrade - is unlikely to lift demand, especially from diagnostics customers that are still struggling to meet margin targets and find it hard to lay out $985,000 for NovaSeq. Though we will continue to do further work to assess the impact of NovaSeq longer-term, our 2017 and 2018 estimates move higher."
Additionally: "With NovaSeq, ILMN sees a path to $100 genome over the longer run as the instrument upgrades continue to drive performance while lowering price. NovaSeq 5000 and 6000 will provide a variety of combinations of throughput and price-points ranging from $850,000 to $985,000. NovaSeq also employs different flowcells generating data ranging from 1 TB to 10 TB per run, which compares to existing 2 TB data from HiSeq X currently. We believe these performance metrics are only going to add further capacity into the market irrespective of the sequencing demand."
For an analyst ratings summary and ratings history on Illumina click here. For more ratings news on Illumina click here.
Shares of Illumina closed at $141.54 yesterday.
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