Illumina Falls as Growth Targets Fail to Impress Investors

Illumina Inc.’s shares fell the most in 10 months after its plan to increase sales through easier DNA sequencing and improved data analysis failed to excite investors, with targets short of earlier growth rates.

The strategy will lead to sales growth of as much as 8% to 9% by 2027, the San Diego-based company said Tuesday, and earnings per share growth of at least 10% over the next three years, in part by finding $200 million in cost savings. Illumina also announced a new partnership with the Broad Institute of MIT and Harvard, a research center focused on ...