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Trovagene to Focus More on Liquid Biopsy Testing Market
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Developer of circulating tumor DNA molecular diagnostics, Trovagene, Inc. , recently announced that it will increase its focus on the global distribution of kits and systems to clinical research laboratories for the liquid biopsy oncology testing market.
TrovaGene witnessed a negative return of roughly 56.2% in the last six months, way wider than the Zacks Categorized Medical Biomed sub-industry’s loss of 5.1%, over the same time frame.
In fact, TrovaGene has been an underperformer in the global health care market. The stock witnessed negative return of 35.2% in the past one month, in stark contrast to the 1.8% loss of the broader industry group.
In this regard, the global liquid biopsy (test done on a sample of blood to look for cancer cells) market by cancer type is expected to reach a worth of $1.66 billion by 2021, growing at a CAGR of 23.4% (Markets and Markets). Such bullish prospects are expected to propel growth for TrovaGene in the coming quarters.
The company earlier announced a strategic long-term relationship with Boreal Genomics to co-develop urine and blood ctDNA assay kits for the next-generation sequencing (NGS) platforms. This partnership would focus on the liquid biopsy testing market by providing cost effective and seamless urine and blood ctDNA assay for the NGS platforms around the world.
Our Take
Despite the unimpressive price movement of the stock, we are upbeat about the company’s significant progress in the liquid biopsy and the Precision Cancer Monitoring (PCM) platform. In this regard, TrovaGene recently announced encouraging data pertaining to PCM technology for both urine and plasma EGFR mutation testing.
Of the other recent developments, TrovaGene has been selected as the liquid biopsy provider for a study named Precision Promise, a large-scale precision medical trial to treat pancreatic cancer patients. TrovaGene has also signed an ‘in-network provider agreement’ with Blue Cross Blue Shield of Illinois, a division of Health Care Service Corporation.
Zacks Rank & Other Key Picks
Currently, TrovaGena carries a Zacks Rank #3 (Hold).
Sucampo’s earnings estimates increased from $1.03 to $1.22 for 2016 and from $1.30 to $1.69 for 2017 over the last 60 days. The company posted a positive surprise in all of the four trailing quarters with an average beat of 35.55%.
Vanda’s loss estimates narrowed from 62 cents to 52 cents for 2016, while its earnings estimates increased from 13 cents to 22 cents for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 56.65%. Its share price has surged almost 73% year to date.
MannKind’s estimates narrowed from loss of 24 cents to earnings of 12 cents for 2016 over the last 60 days. For 2017, loss estimates narrowed from 14 cents to 9 cents over this period. The company posted a positive surprise in two of the four trailing quarters with an average beat of 103.33%.
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Trovagene to Focus More on Liquid Biopsy Testing Market
Developer of circulating tumor DNA molecular diagnostics, Trovagene, Inc. , recently announced that it will increase its focus on the global distribution of kits and systems to clinical research laboratories for the liquid biopsy oncology testing market.
TrovaGene witnessed a negative return of roughly 56.2% in the last six months, way wider than the Zacks Categorized Medical Biomed sub-industry’s loss of 5.1%, over the same time frame.
In fact, TrovaGene has been an underperformer in the global health care market. The stock witnessed negative return of 35.2% in the past one month, in stark contrast to the 1.8% loss of the broader industry group.
In this regard, the global liquid biopsy (test done on a sample of blood to look for cancer cells) market by cancer type is expected to reach a worth of $1.66 billion by 2021, growing at a CAGR of 23.4% (Markets and Markets). Such bullish prospects are expected to propel growth for TrovaGene in the coming quarters.
The company earlier announced a strategic long-term relationship with Boreal Genomics to co-develop urine and blood ctDNA assay kits for the next-generation sequencing (NGS) platforms. This partnership would focus on the liquid biopsy testing market by providing cost effective and seamless urine and blood ctDNA assay for the NGS platforms around the world.
Our Take
Despite the unimpressive price movement of the stock, we are upbeat about the company’s significant progress in the liquid biopsy and the Precision Cancer Monitoring (PCM) platform. In this regard, TrovaGene recently announced encouraging data pertaining to PCM technology for both urine and plasma EGFR mutation testing.
Of the other recent developments, TrovaGene has been selected as the liquid biopsy provider for a study named Precision Promise, a large-scale precision medical trial to treat pancreatic cancer patients. TrovaGene has also signed an ‘in-network provider agreement’ with Blue Cross Blue Shield of Illinois, a division of Health Care Service Corporation.
Zacks Rank & Other Key Picks
Currently, TrovaGena carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include MannKind Corporation (MNKD - Free Report) , Sucampo Pharmaceuticals, Inc. and Vanda Pharmaceuticals, Inc. (VNDA - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Sucampo’s earnings estimates increased from $1.03 to $1.22 for 2016 and from $1.30 to $1.69 for 2017 over the last 60 days. The company posted a positive surprise in all of the four trailing quarters with an average beat of 35.55%.
Vanda’s loss estimates narrowed from 62 cents to 52 cents for 2016, while its earnings estimates increased from 13 cents to 22 cents for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 56.65%. Its share price has surged almost 73% year to date.
MannKind’s estimates narrowed from loss of 24 cents to earnings of 12 cents for 2016 over the last 60 days. For 2017, loss estimates narrowed from 14 cents to 9 cents over this period. The company posted a positive surprise in two of the four trailing quarters with an average beat of 103.33%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>