Illumina News: ILMN Stock 4% Lower on Weak 2020 Outlook

Illumina (NASDAQ:ILMN) news for Monday includes ILMN stock falling on a weak outlook for 2020.

Illumina News: ILMN Stock 4% Lower on Weak 2020 Outlook

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The negative Illumina news comes directly from CEO Francis deSouza. During a presentation at the JPMorgan Healthcare Conference, he said that 2020 revenue growth is expected to come in between 9% and 11%.

The bad Illumina news here is that Wall Street is expecting stronger revenue growth for the full year of 2020. To be more clear, analysts are looking for ILMN’s revenue growth to reach 12% in 2020, reports SeekingAlpha.

Illumina’s poor outlook for 2020 isn’t the only recent news for the company. It also announced today that it has signed a 15-year deal with Roche Partner. This deal is non-exclusive and will focus on increasing the adoption of distributable next-generation sequencing-based testing in oncology.

The deal will have Roche Partner developing, manufacturing and commercializing “AVENIO IVD tests for both tissue and blood for use on Illumina’s NextSeq 550Dx System.”

Omead Ostadan, Senior Vice President of Marketing and Products at Illumina, says this about the ILMN stock news.

“We are proud to continue our tradition of driving down the cost of sequencing without compromising accuracy. NextSeq 1000 and 2000 are designed to enable core labs, small to medium research labs and clinical facilities to access high intensity sequencing applications using our industry-leading SBS technology.”

ILMN stock was down 4.04% as of Monday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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