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Bank Lowers Estimate, Valuation on Illumina's Stock

NEW YORK (GenomeWeb News) – Leerink Swann analyst Isaac Ro today lowered the bank's estimates and valuation on Illumina.

He lowered the estimate on Illumina's 2010 earnings per share to $1.03 from his previous estimate of $1.18, based on the assumption that the firm's R&D and SG&A spending will increase.

While Ro described the near-term sentiment for the stock as negative, he wrote that 2010 should be a "catalyst-rich year," re-focusing investors on the firm's product pipeline. "In our opinion, management has repeatedly demonstrated vigilance and activism around new technology development and will continue to do so via M&A," he wrote.

Ro maintained an "outperform" rating on Illumina's stock, but he lowered the 12-month valuation to $28-$30 from a previous range of $35-$38.

The Scan

Booster Push

New data shows a decline in SARS-CoV-2 vaccine efficacy over time, which the New York Times says Pfizer is using to argue its case for a booster, even as the lower efficacy remains high.

With Help from Mr. Fluffington, PurrhD

Cats could make good study animals for genetic research, the University of Missouri's Leslie Lyons tells the Atlantic.

Man Charged With Threatening to Harm Fauci, Collins

The Hill reports that Thomas Patrick Connally, Jr., was charged with making threats against federal officials.

Nature Papers Present Approach to Find Natural Products, Method to ID Cancer Driver Mutations, More

In Nature this week: combination of cryogenic electron microscopy with genome mining helps uncover natural products, driver mutations in cancer, and more.