Barclays Rates Illumina (ILMN) sell, $145 Price Target

Analyst Luke Sergott maintains a sell rating on the gene-sequencing giant as Wall Street debates its financial trajectory, a 17.87% downside from the current price.

By EarningsIQ Research Desk · Published Jun 24, 2026, 11:01 AM EDT · Updated Jun 29, 2026, 5:01 AM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

Barclays rated Illumina, Inc. ($ILMN) "sell" with a $145 price target on June 24, 2026.

Since the rating, $ILMN is up 5.0% after 1 week, up 10.8% after 1 month and up 50.0% to date (from the $175.09 close on Jun 24, 2026).

ILMN Illumina, Inc.

$262.54 +95.41% year to date

Daily close · Oct 16, 2026

Key Points

Barclays reiterated its sell rating on Illumina on June 24, 2026, setting a price target of $145.00 against a trading price of $176.55.
Barclays's $145 price target implies 17.87% downside from Illumina, Inc.'s ($ILMN) current $176.55 share price.
Illumina posted revenue of $4.49 billion and solid profitability, but its high price-to-earnings ratio of 44.473 remains a point of contention for analysts.
While Barclays stays cautious, other Wall Street firms like TD Cowen and RBC Capital have issued much higher price targets up to $310.00.

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Barclays Stays Bearish on Illumina

Barclays reaffirmed its cautious outlook on Illumina, Inc. (NASDAQ: ILMN) on June 24, 2026. Analyst Luke Sergott reiterated a sell rating on the San Diego-based biotechnology firm, establishing a price target of $145.00. At the time of the call, the genetic-sequencing company's stock was trading at $176.55, meaning the bank anticipated a notable drop in value.

This negative rating highlights a split on Wall Street. While Illumina remains a dominant force in genomic technology, critics point to its premium valuation as a reason for caution. The company has a price-to-earnings ratio of 44.473, a high multiple that requires rapid and sustained growth to justify. Barclays has kept a conservative view on the stock's near-term recovery, even as some rivals have grown more optimistic about its long-term prospects.

Analyst rating track record

Barclays vs. the S&P 500

YTD return +22.25% hypothetical

All-time return +39.40% S&P 500 +39.12%

vs. S&P 500 +0.28% ahead of the index

Hypothetical returns from Barclays's disclosed trades, not real profit or advice. How we model this.

Illumina Stock Trades Near Key Averages

On Wednesday, shares of Illumina were priced at $176.55. The stock has seen wide price swings over the last year, moving between a 52-week low of $88.00 and a 52-week high of $250.06.

Investors are keeping a close eye on technical levels. The current share price is above the 200-day moving average of $156.62, which represents a long-term support level. However, the stock is trading below its shorter-term 50-day moving average of $205.03, showing that recent momentum has cooled off after a strong push earlier in the year.

12-month forecast

$ILMN price target

Illumina, Inc. daily closes and this analyst's $145 target. Not advice.

Solid Revenue Growth But Premium Valuation

In its recent financial reports, Illumina showed total revenue of $4.49 billion, which represents a year-over-year revenue growth of 9.4%. The company remains highly profitable, recording an earnings per share of $5.37.

Its net profit margin stood at 18.34% for the period, and the company reported a return on equity of 32.34%. These metrics show that the core business of selling gene-sequencing machines and high-margin chemical consumables remains healthy. However, with a forward P/E ratio of 39.12, some analysts believe the market has already priced in the expected growth.

Wall Street Is Divided on Illumina's Path

While Barclays has maintained a more bearish stance, other investment banks have taken a far more positive view on the stock's future. The consensus recommendation among 20 analysts tracking the stock is a buy, with an average target price of $202.65.

On October 13, 2026, TD Cowen maintained a Hold rating on the stock but set a much higher price target of $270.00. Days earlier, on October 7, 2026, Barclays updated its own model to an Underweight rating with a revised price target of $200.00, showing a slight adjustment to its earlier caution.

Other major firms have been even more bullish. On October 5, 2026, RBC Capital reiterated its Outperform rating with a price target of $310.00. Guggenheim kept a Buy rating on October 1, 2026, setting a target of $305.00. Leerink Partners also backed the stock on September 29, 2026, maintaining an Outperform rating and a $300.00 target, while Piper Sandler reiterated an Overweight rating on September 28, 2026, with a target of $305.00. UBS upgraded the stock to a Buy on September 9, 2026, with a target of $260.00, and Argus Research maintained its Buy rating on September 3, 2026, with a target of $235.00.

Mapping the Genome

Illumina designs and manufactures tools and chemical kits used to analyze genetic material. Its systems are used by researchers, clinical laboratories, and hospitals worldwide to sequence DNA, study diseases, and develop personalized medical treatments. The company's business model relies on selling expensive sequencing machines and then generating steady, recurring revenue from the specialized chemicals and test kits needed to run them.

What to Watch at Illumina, Inc.

Investors will get a clearer look at Illumina's financial progress when the company reports its next quarterly earnings on October 29, 2026. This release will provide updated numbers on instrument shipments and test-kit sales, which are the main drivers of its top-line growth. It is important to note that analyst ratings and 13F holdings represent opinions and positions at specific points in time and do not guarantee future performance.