UPDATE: Tigress Initiates Coverage On Illumina

In a report released Friday, Tigress analyst Philip Van Deusen initiated coverage on Illumina ILMN with a Buy rating.

Analysts at Tigress favor Illumina for reducing costs in its genomic health progress with its genetic testing, diagnosis and individualized treatment. Illumina's development of hardware will strengthen, influencing an increase to barriers to entry. Tigress holds high expectations for Illumina sequencing machines, growing 51 percent year over year and making a majority of the company's revenue.