Illumina, Inc. (ILMN): Canaccord Analyst Cautiously Optimistic on Helix Announcement

In a research report published yesterday, Canaccord analyst Mark Massaro maintained a Buy rating on shares of Illumina, Inc. (NASDAQ:ILMN), with a price target of $250, following the recent news that the company and its initial partners have obtained $100 million in commitments to create Helix, which plans to be one of the world’s largest NGS labs and offer a secure, HIPAAcompliant database.

Massaro wrote, “While a number of questions remain unanswered, we are cautiously optimistic on Illumina’s announcement they will form Helix, a consumer-focused genomics company, with private equity partners Warburg Pincus and Sutter Hill Ventures, and the Mayo Clinic. Helix looks to be the “digital hub” for consumer genomics and will allow third parties (initially LabCorp and the Mayo Clinic) to build “genomics apps” akin to the Apple app store.”

“While Illumina insists that Helix will not compete with its customers (23andMe, for one), we remain unclear on this. Net, net, we think as consumers begin to embrace and use genomics in their everyday lives, we expect another leg of growth ahead for Illumina’s wide range of industry-leading sequencing products,” the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mark Massaro has a total average return of -8.4% and a 34.4% success rate. Massaro has a -12.1% average return when recommending ILMN, and is ranked #3608 out of 3738 analysts.

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