ILMN Stock to Gain From the Launch of Illumina Protein Prep Assay

Illumina, Inc. ILMN recently announced the launch of Illumina Protein Prep, an assay designed to deliver superior performance for next-generation sequencing (NGS)-based proteomics discovery at scale. Previously offered through an early-access program, it is now broadly available to customers worldwide, enabling researchers to add proteomics to large-scale genomics studies and fuel new insights across cancer, cardio metabolic and immunologic diseases, with a streamlined sample-to-insights solution for discovery and clinical research.

The launch follows Illumina’s June announcement of an agreement to acquire SomaLogic, a leader in data-driven proteomics technology. The transaction, subject to customary closing conditions, enhances the company’s presence in the growing proteomics market and advances its multiomics strategy.

ILMN Stock’s Likely Trend Following the News

Since the announcement on Sept. 3, ILMN shares jumped 2.2% to close at $98.18 yesterday. NGS-based proteomics provides critical speed, accuracy, reproducibility, and scalability to power large studies and accelerate the drug discovery pipeline for Illumina’s ecosystem partners in biopharma. Proteomics strengthens the company’s understanding of disease and forms a central pillar of multiomics. Illumina Protein Prep will help deliver multiomics at scale to transform biologic discovery. Accordingly, we expect ILMN stock’s upward trend to continue, driven by this news.

Illumina presently has a market capitalization of $15.21 billion. The company’s earnings yield of 4.5% sits comfortably against the industry’s -21.7% yield. It delivered an earnings beat of 10.6%, on average, in the trailing four quarters.

Significance of Illumina Protein Prep

Illumina Protein Prep is powered by SomaLogic’s SOMAmer technology and can measure 9500 unique human protein targets, the most with an NGS readout, offering the greatest insights into protein biology. Combining Illumina Protein Prep with the power and scalability of Illumina NovaSeq sequencing platforms enables the simultaneous interrogation of thousands of proteins in a single experiment, maximizing the discovery power of proteomics studies. After sequencing, Illumina DRAGEN Protein Quantification and Connected Multiomics software work together to turn complex proteomic data into clear insights. 

Since 2024, Illumina has worked with nearly 40 early collaborators to pilot Illumina Protein Prep, informing development and leading to an optimized customer experience. Since the inception of early access, about 30,000 samples have been processed with the Illumina Protein Prep 6K assay and more than 6000 samples with the Illumina Protein Prep 9.5K assay, which was made available through early access this March.

Furthermore, researchers leading Genomics England's 100,000 Genomes Project have implemented a multiomics program to improve on the roughly 25% diagnostic yield reported in 2019 for the rare disease cohort. As part of that, they have leveraged Illumina Protein Prep to profile more than 7800 participants. Data from the initial 500-sample pilot study showed a significant 7.5% increase in diagnostic yield.

Industry Prospects Favor ILMN

Per a Grand View Research report, the global proteomics market was valued at $27.8 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 12.9% by 2030. Some of the key factors fueling the market’s growth are the rising prevalence of chronic & infectious diseases, the growing demand for rapid and advanced diagnostic solutions in target disease treatment and the high demand for personalized medicine.

Other Developments at Illumina

In July, the company launched the next generation of TruSight Oncology 500 — its flagship cancer research assay that enables comprehensive genomic profiling. TruSight Oncology 500 version 2 (TSO 500 v2) offers a streamlined sample-to-analysis workflow and reflects Illumina's commitment to serving customers with the highest quality and most rigorously tested solutions.

ILMN Stock Price Performance

In the past six months, ILMN shares have risen 14.2% against the industry’s 1.7% fall.

Illumina’s Zacks Rank and Key Picks

Illumina currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space include Phibro Animal Health PAHC, Masimo MASI and Envista NVST. While Phibro and Masimo each sport a Zacks Rank #1 (Strong Buy), Envista carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Estimates for Phibro Animal Health’s fiscal 2026 earnings per share have increased 6.5% to $2.45 in the past 30 days. Shares of the company have surged 88.9% in the past year compared with the industry’s 2.4% growth. PAHC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 27.9%. In the last reported quarter, it delivered an earnings surprise of 9.6%.

Masimo shares have jumped 29.4% in the past year. Estimates for the company’s 2025 earnings per share have increased 1.3% to $5.30 in the past 30 days. MASI’s earnings beat estimates in each of the trailing four quarters, the average surprise being 13.8%. In the last reported quarter, it posted an earnings surprise of 8.1%.

Estimates for Envista’s 2025 earnings per share have remained constant at $1.12 in the past 30 days. Shares of the company have rallied 22.7% in the past year compared with the industry’s 2.3% rise. Its earnings yield of 5.3% also outpaced the industry’s 0.2% yield. NVST’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.5%.

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This article originally published on Zacks Investment Research (zacks.com).

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