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Illumina (ILMN), Nashville Biosciences Partner With Amgen
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Illumina (ILMN - Free Report) , together with Nashville Biosciences LLC, a wholly owned subsidiary of Vanderbilt University Medical Center (VUMC), entered into an agreement with Amgen on sequencing. Per the agreement, the companies plan to do a whole-genome sequence of approximately 35,000 DNA samples.
Sequencing this set of samples is the first under Illumina and Nashville Biosciences' Alliance for Genomic Discovery (AGD). This is a multiyear agreement to accelerate therapeutic development through large-scale genomics and establish a pre-eminent clinico-genomic data set.
The AGD was launched in 2022 with a target to whole-genome sequence at least 250,000 de-identified human DNA samples from VUMC's BioVU biobank over two and a half years under collaborations with multiple biopharmaceutical companies.
More on the News
In this regard, Illumina noted that commonly the genomic data sets are drawn from people of European ancestry. This leads to a lack of diversity in genomic data. This thereby creates a gap between the scientific understanding of the underlying genetic causes of disease and hinders equitable access to precision health therapies.
Image Source: Zacks Investment Research
To address this, the companies this time have taken the sample cohort primarily made up of DNA from African Americans. This sample set, per Illumina, underrepresents research for the clinical applications of genomics, including drug target discovery. With the latest development, this cohort is going to be the largest data set of genomes of its kind to date.
Strong Prospects in the Genetic Health Market
Illumina is currently keeping pace with its goals to strengthen its foothold in the multi-billion gene sequencing worldwide market with some highly competitive products in its existing portfolio and pipeline. This market is developing rapidly on a global scale, allowing the company to witness continuous growth in the number of non-invasive prenatal test (NIPT) samples.
Within reproductive health, consistent strength in NIPT supported revenue growth across the APJ (the Asia Pacific and Japan) region in the third quarter of 2022. Growth in the region was driven by strong demand in emerging markets, notably in India, Indonesia and Thailand and continued strength in NIPT and oncology testing.
In genetic disease testing, sequencing consumable shipments grew 11% year over year in the third quarter. National health system funding for rare diseases is increasing in multiple geographies, including EMEA and China and evidence generation continues to grow.
Share Price Performance
In the past year, Illumina has underperformed its industry. The stock has lost 44.3% compared with the industry's 17.7% decline.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Boston Scientific Corporation (BSX - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has lost 10.6% compared with the industry’s 30.3% decline in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.3%. BSX’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 1.9%.
Boston Scientific has gained 6.8% against the industry’s 42.6% decline over the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 13.7% against the industry’s 8.7% decline over the past year.
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Illumina (ILMN), Nashville Biosciences Partner With Amgen
Illumina (ILMN - Free Report) , together with Nashville Biosciences LLC, a wholly owned subsidiary of Vanderbilt University Medical Center (VUMC), entered into an agreement with Amgen on sequencing. Per the agreement, the companies plan to do a whole-genome sequence of approximately 35,000 DNA samples.
Sequencing this set of samples is the first under Illumina and Nashville Biosciences' Alliance for Genomic Discovery (AGD). This is a multiyear agreement to accelerate therapeutic development through large-scale genomics and establish a pre-eminent clinico-genomic data set.
The AGD was launched in 2022 with a target to whole-genome sequence at least 250,000 de-identified human DNA samples from VUMC's BioVU biobank over two and a half years under collaborations with multiple biopharmaceutical companies.
More on the News
In this regard, Illumina noted that commonly the genomic data sets are drawn from people of European ancestry. This leads to a lack of diversity in genomic data. This thereby creates a gap between the scientific understanding of the underlying genetic causes of disease and hinders equitable access to precision health therapies.
Image Source: Zacks Investment Research
To address this, the companies this time have taken the sample cohort primarily made up of DNA from African Americans. This sample set, per Illumina, underrepresents research for the clinical applications of genomics, including drug target discovery. With the latest development, this cohort is going to be the largest data set of genomes of its kind to date.
Strong Prospects in the Genetic Health Market
Illumina is currently keeping pace with its goals to strengthen its foothold in the multi-billion gene sequencing worldwide market with some highly competitive products in its existing portfolio and pipeline. This market is developing rapidly on a global scale, allowing the company to witness continuous growth in the number of non-invasive prenatal test (NIPT) samples.
Within reproductive health, consistent strength in NIPT supported revenue growth across the APJ (the Asia Pacific and Japan) region in the third quarter of 2022. Growth in the region was driven by strong demand in emerging markets, notably in India, Indonesia and Thailand and continued strength in NIPT and oncology testing.
In genetic disease testing, sequencing consumable shipments grew 11% year over year in the third quarter. National health system funding for rare diseases is increasing in multiple geographies, including EMEA and China and evidence generation continues to grow.
Share Price Performance
In the past year, Illumina has underperformed its industry. The stock has lost 44.3% compared with the industry's 17.7% decline.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Boston Scientific Corporation (BSX - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has lost 10.6% compared with the industry’s 30.3% decline in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.3%. BSX’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 1.9%.
Boston Scientific has gained 6.8% against the industry’s 42.6% decline over the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 13.7% against the industry’s 8.7% decline over the past year.