Grail's Stock Plummets Over 40% Yet Remains Optimistic
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Source: NASDAQ.COM
- Significant Stock Decline: Grail's stock has plummeted over 40% from its all-time high of $116.06 on January 22, 2024, currently trading around $69, primarily due to its NHS England trial failing to meet key endpoints, which has shaken investor confidence.
- Revenue Growth Continues: Despite uncertainties surrounding FDA approval, Grail is still selling its Galleri tests on a cash basis, with revenues projected to rise from $93 million in 2022 to $147 million in 2025, and analysts expect a 25% CAGR to $287 million by 2028, indicating strong market demand.
- Partial Success in Trials: Although the NHS trial did not show that Galleri users had fewer late-stage cancers (Stage III and IV), it did demonstrate fewer Stage IV detections and achieved earlier (Stage I and II) detections for the deadliest cancers, highlighting its potential clinical value.
- Massive Market Potential: Should Galleri receive FDA approval, analysts predict its total addressable market could balloon to $100 billion, making Grail a highly attractive acquisition target with the potential for substantial returns over the next decade.
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Analyst Views on ILMN
Wall Street analysts forecast ILMN stock price to fall
13 Analyst Rating
4 Buy
6 Hold
3 Sell
Hold
Current: 194.330
Low
40.50
Averages
133.54
High
170.00
Current: 194.330
Low
40.50
Averages
133.54
High
170.00
About ILMN
Illumina, Inc. specializes in DNA sequencing and array-based technologies, serving customers in research, clinical and applied markets. The Company's products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. Its customers include genomic research centers, academic institutions, government laboratories, and hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic laboratories, and consumer genomics companies. Its comprehensive line of products addresses the scale of experimentation and breadth of functional analysis to advance disease research, drug development, and the development of molecular tests. It also specializes in data-driven proteomics technology. Its products include instruments, kits and reagents, selection tools, and software and analysis. Its services include sequencing services, microarray services, proactive instrument monitoring, and instrument services and training.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Illumina Positioned for Strong Growth Ahead
- Focus on Core Genomics: Following the spin-off of GRAIL in June 2024, Illumina has sharpened its strategy on the core sequencing business, aiming for high-single-digit revenue growth and double-digit to teens EPS growth by 2027, demonstrating a commitment to sustainable growth.
- NovaSeq X Deployments: In Q1 2026, Illumina placed over 80 NovaSeq X units, exceeding expectations and reflecting strong clinical demand, with plans to maintain an average deployment of 50 to 60 units quarterly, further solidifying its market position.
- Clinical Demand Driving Growth: Clinical sequencing consumables demand grew 20% year-over-year in Q1 2026, indicating broader adoption of NGS testing, with expectations that most clinical volumes will transition to the NovaSeq X platform by the end of 2026.
- Challenges in China Market: Despite strong overall performance, Illumina's revenues in Greater China fell 27.8% year-over-year, facing regulatory and geopolitical uncertainties that limit growth potential in the region and may impact overall performance.
See More
Grail's Stock Recovery Potential Analysis
- Revenue Growth: Grail's revenue surged from $93 million in 2022 to $147 million in 2025, with analysts projecting a 25% CAGR to $287 million by 2028, indicating strong demand among affluent customers and select employers.
- FDA Approval Prospects: Despite lacking FDA approval for its Galleri blood test, Grail sold over 56,000 tests on a cash-only basis in Q1 2026, demonstrating robust market demand, and its integration with Epic's Aura network is expected to further boost sales.
- NHS Trial Results Analysis: Although Grail's NHS England trial did not meet its primary endpoint, users of Galleri showed lower rates of late-stage cancer detection, particularly Stage IV, highlighting the test's potential in early cancer detection.
- Significant Market Opportunity: Should the FDA grant premarket approval for Galleri within the next 12 months, Grail's enterprise value could easily double, with analysts estimating its total addressable market could expand to $100 billion, potentially yielding substantial returns and making it an attractive acquisition target.
See More
Grail's Stock Plummets Over 40% Yet Remains Optimistic
- Significant Stock Decline: Grail's stock has plummeted over 40% from its all-time high of $116.06 on January 22, 2024, currently trading around $69, primarily due to its NHS England trial failing to meet key endpoints, which has shaken investor confidence.
- Revenue Growth Continues: Despite uncertainties surrounding FDA approval, Grail is still selling its Galleri tests on a cash basis, with revenues projected to rise from $93 million in 2022 to $147 million in 2025, and analysts expect a 25% CAGR to $287 million by 2028, indicating strong market demand.
- Partial Success in Trials: Although the NHS trial did not show that Galleri users had fewer late-stage cancers (Stage III and IV), it did demonstrate fewer Stage IV detections and achieved earlier (Stage I and II) detections for the deadliest cancers, highlighting its potential clinical value.
- Massive Market Potential: Should Galleri receive FDA approval, analysts predict its total addressable market could balloon to $100 billion, making Grail a highly attractive acquisition target with the potential for substantial returns over the next decade.
See More
Illumina Appoints New Board Member
- New Board Appointment: Illumina announced the appointment of Daniel M. Skovronsky to its Board of Directors, effective June 16, 2026, with his extensive experience in drug discovery and clinical development expected to provide strategic advantages for the company.
- Industry Background: Skovronsky currently serves as Chief Scientific and Product Officer at Eli Lilly and President of Lilly Research Laboratories, and his expertise is anticipated to aid Illumina's further development in the biotechnology sector.
- Previous Roles: Prior to this, Skovronsky was a board member at Myriad Genetics and founded Avid Radiopharmaceuticals in 2004, serving as CEO, showcasing his deep roots in the biopharmaceutical industry.
- Stock Performance: Illumina closed Tuesday's trading at $164.93, up 2.20%, and this positive market reaction may be linked to the strategic significance of the new appointment, reflecting investor confidence in the company's future growth.
See More
Illumina Appoints Eli Lilly Executive to Board
- New Board Member: Illumina appointed Dr. Daniel M. Skovronsky to its Board of Directors effective June 16, 2026, bringing extensive drug discovery and clinical development experience that will directly enhance Illumina's innovation in genomics and multiomics platforms.
- Scientific Leadership: Currently serving as Chief Scientific and Product Officer at Eli Lilly, Dr. Skovronsky leads the global R&D organization and oversees commercial products in cardiometabolic health, immunology, and neuroscience, thereby strengthening Illumina's strategic capabilities in precision medicine.
- Industry Influence: Since joining Lilly in 2010, Dr. Skovronsky has taken on increasing responsibilities and previously served on the Board of Myriad Genetics, showcasing his deep background and influence in the biopharmaceutical industry.
- Educational Background: Dr. Skovronsky holds a Bachelor of Science in molecular biophysics and biochemistry from Yale University and earned both his MD and PhD from the University of Pennsylvania, completing residency and fellowship training in pathology and neuropathology, which further solidifies his expertise.
See More
Illumina Appoints Eli Lilly Executive to Board
- New Board Member: Illumina appointed Dr. Daniel M. Skovronsky to its Board of Directors effective June 16, 2026, bringing extensive experience in drug discovery and clinical development that will provide critical insights for the company's innovation in genomics and multiomics platforms.
- Scientific Leadership: Currently serving as Chief Scientific and Product Officer at Eli Lilly, Dr. Skovronsky oversees global R&D and commercial products in cardiometabolic health, immunology, and neuroscience, which is expected to drive Illumina's strategic development in precision medicine.
- Diverse Industry Background: Since joining Lilly in 2010, Dr. Skovronsky has taken on increasing responsibilities and previously served on the Board of Myriad Genetics, enhancing Illumina's innovation capabilities with his multifaceted background.
- Education and Training: Dr. Skovronsky holds a Bachelor of Science in molecular biophysics and biochemistry from Yale University and earned both his MD and PhD from the University of Pennsylvania, completing residency and fellowship training in pathology and neuropathology, reflecting his strong academic foundation.
See More
Illumina Positioned for Strong Growth Ahead
- Focus on Core Genomics: Following the spin-off of GRAIL in June 2024, Illumina has sharpened its strategy on the core sequencing business, aiming for high-single-digit revenue growth and double-digit to teens EPS growth by 2027, demonstrating a commitment to sustainable growth.
- NovaSeq X Deployments: In Q1 2026, Illumina placed over 80 NovaSeq X units, exceeding expectations and reflecting strong clinical demand, with plans to maintain an average deployment of 50 to 60 units quarterly, further solidifying its market position.
- Clinical Demand Driving Growth: Clinical sequencing consumables demand grew 20% year-over-year in Q1 2026, indicating broader adoption of NGS testing, with expectations that most clinical volumes will transition to the NovaSeq X platform by the end of 2026.
- Challenges in China Market: Despite strong overall performance, Illumina's revenues in Greater China fell 27.8% year-over-year, facing regulatory and geopolitical uncertainties that limit growth potential in the region and may impact overall performance.
See More
Grail's Stock Recovery Potential Analysis
- Revenue Growth: Grail's revenue surged from $93 million in 2022 to $147 million in 2025, with analysts projecting a 25% CAGR to $287 million by 2028, indicating strong demand among affluent customers and select employers.
- FDA Approval Prospects: Despite lacking FDA approval for its Galleri blood test, Grail sold over 56,000 tests on a cash-only basis in Q1 2026, demonstrating robust market demand, and its integration with Epic's Aura network is expected to further boost sales.
- NHS Trial Results Analysis: Although Grail's NHS England trial did not meet its primary endpoint, users of Galleri showed lower rates of late-stage cancer detection, particularly Stage IV, highlighting the test's potential in early cancer detection.
- Significant Market Opportunity: Should the FDA grant premarket approval for Galleri within the next 12 months, Grail's enterprise value could easily double, with analysts estimating its total addressable market could expand to $100 billion, potentially yielding substantial returns and making it an attractive acquisition target.
See More
Grail's Stock Plummets Over 40% Yet Remains Optimistic
- Significant Stock Decline: Grail's stock has plummeted over 40% from its all-time high of $116.06 on January 22, 2024, currently trading around $69, primarily due to its NHS England trial failing to meet key endpoints, which has shaken investor confidence.
- Revenue Growth Continues: Despite uncertainties surrounding FDA approval, Grail is still selling its Galleri tests on a cash basis, with revenues projected to rise from $93 million in 2022 to $147 million in 2025, and analysts expect a 25% CAGR to $287 million by 2028, indicating strong market demand.
- Partial Success in Trials: Although the NHS trial did not show that Galleri users had fewer late-stage cancers (Stage III and IV), it did demonstrate fewer Stage IV detections and achieved earlier (Stage I and II) detections for the deadliest cancers, highlighting its potential clinical value.
- Massive Market Potential: Should Galleri receive FDA approval, analysts predict its total addressable market could balloon to $100 billion, making Grail a highly attractive acquisition target with the potential for substantial returns over the next decade.
See More
Illumina Appoints New Board Member
- New Board Appointment: Illumina announced the appointment of Daniel M. Skovronsky to its Board of Directors, effective June 16, 2026, with his extensive experience in drug discovery and clinical development expected to provide strategic advantages for the company.
- Industry Background: Skovronsky currently serves as Chief Scientific and Product Officer at Eli Lilly and President of Lilly Research Laboratories, and his expertise is anticipated to aid Illumina's further development in the biotechnology sector.
- Previous Roles: Prior to this, Skovronsky was a board member at Myriad Genetics and founded Avid Radiopharmaceuticals in 2004, serving as CEO, showcasing his deep roots in the biopharmaceutical industry.
- Stock Performance: Illumina closed Tuesday's trading at $164.93, up 2.20%, and this positive market reaction may be linked to the strategic significance of the new appointment, reflecting investor confidence in the company's future growth.
See More
Illumina Appoints Eli Lilly Executive to Board
- New Board Member: Illumina appointed Dr. Daniel M. Skovronsky to its Board of Directors effective June 16, 2026, bringing extensive drug discovery and clinical development experience that will directly enhance Illumina's innovation in genomics and multiomics platforms.
- Scientific Leadership: Currently serving as Chief Scientific and Product Officer at Eli Lilly, Dr. Skovronsky leads the global R&D organization and oversees commercial products in cardiometabolic health, immunology, and neuroscience, thereby strengthening Illumina's strategic capabilities in precision medicine.
- Industry Influence: Since joining Lilly in 2010, Dr. Skovronsky has taken on increasing responsibilities and previously served on the Board of Myriad Genetics, showcasing his deep background and influence in the biopharmaceutical industry.
- Educational Background: Dr. Skovronsky holds a Bachelor of Science in molecular biophysics and biochemistry from Yale University and earned both his MD and PhD from the University of Pennsylvania, completing residency and fellowship training in pathology and neuropathology, which further solidifies his expertise.
See More
Illumina Appoints Eli Lilly Executive to Board
- New Board Member: Illumina appointed Dr. Daniel M. Skovronsky to its Board of Directors effective June 16, 2026, bringing extensive experience in drug discovery and clinical development that will provide critical insights for the company's innovation in genomics and multiomics platforms.
- Scientific Leadership: Currently serving as Chief Scientific and Product Officer at Eli Lilly, Dr. Skovronsky oversees global R&D and commercial products in cardiometabolic health, immunology, and neuroscience, which is expected to drive Illumina's strategic development in precision medicine.
- Diverse Industry Background: Since joining Lilly in 2010, Dr. Skovronsky has taken on increasing responsibilities and previously served on the Board of Myriad Genetics, enhancing Illumina's innovation capabilities with his multifaceted background.
- Education and Training: Dr. Skovronsky holds a Bachelor of Science in molecular biophysics and biochemistry from Yale University and earned both his MD and PhD from the University of Pennsylvania, completing residency and fellowship training in pathology and neuropathology, reflecting his strong academic foundation.
See More
