Canaccord Genuity has reiterated its Hold recommendation and maintained a $150.00 price target on Illumina (NASDAQ:ILMN) following the company’s fourth-quarter 2025 financial report issued on Thursday. The firm’s decision came after results that the company had pre-announced in mid-January and that ultimately lined up with analyst estimates and FactSet consensus.
Illumina’s fourth-quarter performance reflected several stabilizing influences. Revenue outside of China was a notable contributor, and the company reported growth in consumables that the firm attributed primarily to continued customer adoption of its NovaSeq X sequencing platform. Canaccord noted those dynamics while maintaining a measured stance on the stock.
Quarterly results and guidance
Illumina posted fourth-quarter earnings per share of $1.35, exceeding the forecasted $1.22. Quarterly revenue reached $1.16 billion, above the $1.1 billion analysts had expected. The company’s results had been pre-announced in mid-January and were generally consistent with the analyst community’s prior expectations.
Looking ahead, Illumina supplied guidance for fiscal 2026 that projects revenue in the range of $4.5 billion to $4.6 billion, representing 4-6% year-over-year growth on a reported basis. For the first quarter of 2026, the company expects revenue between $1.06 billion and $1.08 billion, which would be a 2-4% increase compared with the same quarter a year earlier.
Drivers and outlook
Management pointed to anticipated double-digit to mid-teens growth in clinical consumables and an upcoming slate of multiomics product launches as support for the company’s outlook. Additional environmental factors cited as supportive included steady funding from the National Institutes of Health and the easing of import restrictions in China, both of which Canaccord views as contributing to a more stable operating backdrop for Illumina.
Despite those encouraging signs, Canaccord emphasized caution. The firm is waiting for clearer evidence of a sustained recovery in demand from the academic research segment before considering any change to its Hold rating.
Implications for markets and sectors
The company’s results and Canaccord’s maintained recommendation carry particular relevance for the genomics and broader life sciences tools sectors, as well as healthcare and specialized equipment suppliers that depend on sequencing-related consumables. Investors tracking Illumina will likely weigh the sequencing consumables trajectory and the pace of recovery in academic research when assessing near-term prospects.
Summary of facts
- Canaccord Genuity reiterated a Hold rating and $150.00 price target on Illumina.
- Illumina reported Q4 2025 EPS of $1.35 versus an expected $1.22, and revenue of $1.16 billion versus an expected $1.1 billion.
- Company guidance for 2026 revenue is $4.5-4.6 billion (4-6% year-over-year); Q1 2026 revenue guidance is $1.06-1.08 billion (2-4% year-over-year).
- Growth is supported by strong consumables performance driven by NovaSeq X adoption, steady NIH funding, and the lifting of import restrictions in China.