NEW YORK (GenomeWeb) – Investment bank Leerink has upgraded Illumina's stock to Outperform from Market Perform, anticipating faster than previously expected adoption of its new sequencing instrument, NovaSeq, based on a recent survey by MEDACorp that Leerink commisioned of 40 NGS labs. Leerink set a 12-month price target for Illumina shares at $195.

The investment bank also raised Illumina's 2018 revenue estimates 3 percent to $3.07 billion and its 2019 revenue estimates to $3.44 billion.

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