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QIAGEN Collaborates With NeuMoDx, Expands NGS Portfolio
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QIAGEN N.V. (QGEN - Free Report) recently collaborated with NeuMoDx Molecular, Inc. to market two new fully integrated systems for automation of PCR (polymerase chain reaction) testing. Furthermore, the companies are partnering to apply certain QIAGEN chemistries on the NeuMoDx systems.
QIAGEN currently owns about 19.9% of NeuMoDx’s shares. The companies have also entered into a merger agreement, under which on meeting certain regulatory and operational milestones, QIAGEN can buy all of the remaining shares of NeuMoDx at a fixed price of around $234 million.
QIAGEN will begin with distributing the NeuMoDx 288 (high-throughput version) and NeuMoDx 96 (mid-throughput version) in Europe and other major markets globally outside of the United States. On the other hand, NeuMoDx will market the systems in the United States directly. Thus, the addition of NeuMoDx systems equips QIAGEN with a comprehensive portfolio for molecular testing platforms and will help to boost the top line in the near term.
Market Potential
Per a report by MarketsandMarkets, the global next-generation sequencing (NGS) market is expected to reach a worth of $16.35 billion by 2024, at a CAGR of 19.2% between 2018 and 2024. In view of the data, we believe the latest development will help QIAGEN cash in on the bountiful opportunities in this niche space.
Solid NGS Platform Projections
QIAGEN has highlighted certain strategies to boost top-line contributions from the NGS portfolio to $140 million in 2018 from more than $115 million in 2017. Notably, this platform has been witnessing double-digit revenue growth over the past few quarters.
Management aims to expand the NGS platform by rapidly scaling-up the new Enterprise Genomics Services. It also plans to introduce the proprietary, new third-generation chemistry and a range of proprietary Digital NGS technology-based new gene panels within the GeneReader system. Per management, innovative GeneReader NGS chemistry is prepared for a launch and is based on proprietary formulations.
Also, the GeneRead QIAact Myeloid panel — a latest gene panel — is geared up for an early 2018 launch. Furthermore, upgraded versions of the GeneRead QIAact BRCA 1/2 gene panel and QIAact Actionable Insights Tumor Panel FPPE gene panel are in the cards. The upgrade will involve making complete use of QIAGEN’s proprietary Digital NGS technology with the addition of other relevant genes.
Share Price Performance
QIAGEN has been gaining investor confidence on consistently encouraging results. Over the past three months, the company’s share price has outperformed its industry. The stock has gained 16.8% against the industry’s 14.8% fall.
Zacks Rank and Key Picks
QIAGEN carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Intuitive Surgical (ISRG - Free Report) , Amedisys, Inc. (AMED - Free Report) and Masimo Corporation (MASI - Free Report) .
Amedisys’ long-term expected earnings growth rate is 18.6%. The stock holds a Zacks Rank #1 at the moment.
Masimo’s long-term expected earnings growth rate is 14.8%. The stock holds a Zacks Rank #2 (Buy) at present.
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Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
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QIAGEN Collaborates With NeuMoDx, Expands NGS Portfolio
QIAGEN N.V. (QGEN - Free Report) recently collaborated with NeuMoDx Molecular, Inc. to market two new fully integrated systems for automation of PCR (polymerase chain reaction) testing. Furthermore, the companies are partnering to apply certain QIAGEN chemistries on the NeuMoDx systems.
QIAGEN currently owns about 19.9% of NeuMoDx’s shares. The companies have also entered into a merger agreement, under which on meeting certain regulatory and operational milestones, QIAGEN can buy all of the remaining shares of NeuMoDx at a fixed price of around $234 million.
QIAGEN will begin with distributing the NeuMoDx 288 (high-throughput version) and NeuMoDx 96 (mid-throughput version) in Europe and other major markets globally outside of the United States. On the other hand, NeuMoDx will market the systems in the United States directly. Thus, the addition of NeuMoDx systems equips QIAGEN with a comprehensive portfolio for molecular testing platforms and will help to boost the top line in the near term.
Market Potential
Per a report by MarketsandMarkets, the global next-generation sequencing (NGS) market is expected to reach a worth of $16.35 billion by 2024, at a CAGR of 19.2% between 2018 and 2024. In view of the data, we believe the latest development will help QIAGEN cash in on the bountiful opportunities in this niche space.
Solid NGS Platform Projections
QIAGEN has highlighted certain strategies to boost top-line contributions from the NGS portfolio to $140 million in 2018 from more than $115 million in 2017. Notably, this platform has been witnessing double-digit revenue growth over the past few quarters.
Management aims to expand the NGS platform by rapidly scaling-up the new Enterprise Genomics Services. It also plans to introduce the proprietary, new third-generation chemistry and a range of proprietary Digital NGS technology-based new gene panels within the GeneReader system. Per management, innovative GeneReader NGS chemistry is prepared for a launch and is based on proprietary formulations.
Also, the GeneRead QIAact Myeloid panel — a latest gene panel — is geared up for an early 2018 launch. Furthermore, upgraded versions of the GeneRead QIAact BRCA 1/2 gene panel and QIAact Actionable Insights Tumor Panel FPPE gene panel are in the cards. The upgrade will involve making complete use of QIAGEN’s proprietary Digital NGS technology with the addition of other relevant genes.
Share Price Performance
QIAGEN has been gaining investor confidence on consistently encouraging results. Over the past three months, the company’s share price has outperformed its industry. The stock has gained 16.8% against the industry’s 14.8% fall.
Zacks Rank and Key Picks
QIAGEN carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Intuitive Surgical (ISRG - Free Report) , Amedisys, Inc. (AMED - Free Report) and Masimo Corporation (MASI - Free Report) .
Intuitive Surgical’s long-term expected earnings growth rate is 14.7%. The stock currently carries a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Amedisys’ long-term expected earnings growth rate is 18.6%. The stock holds a Zacks Rank #1 at the moment.
Masimo’s long-term expected earnings growth rate is 14.8%. The stock holds a Zacks Rank #2 (Buy) at present.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>