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Pacific Biosciences' (PACB) Sequel II Gets Deployed by LabCorp
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Pacific Biosciences of California, Inc. (PACB - Free Report) recently announced that Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp has shown higher commitment toward the highly accurate HiFi sequencing through the addition of new PacBio Sequel II Systems. Pacific Biosciences’ contributions to the development of a production-scale assay have enabled LabCorp and the Centers for Disease Control and Prevention (CDC) to help understand the rapidly spread of new coronavirus variants.
For investor’s note, LabCorp and the CDC utilized PacBio HiFi sequencing data recently as well to detect the first known cases of infection from the B.1.351 variant, in both South Carolina and Virginia.
Notably, PacBio’s highly accurate HiFi sequencing offers distinct benefits that result in greater accuracy and enhance the understanding of population genetics and disease response from SARS-CoV-2 surveillance even at low coverage.
This development is likely to boost Pacific Biosciences’ flagship platform – the Sequel system.
More on the News
The advent of more infectious mutations in the United States and other regions across the globe has made it necessary for governments and public health organizations to quickly detect and track the different coronavirus strains in their communities through complete viral genome sequencing.
Per management, deployment of Sequel II HiFi sequencing is a major step by the company to stand in the fight against pandemic and to strengthen long-term viral surveillance plan worldwide.
The new PacBio Sequel II system will allow LabCorp to extend its ability to generate thousands of more complete coronavirus genomes each week from the sample of patients. Further, CDC will utilize these data to track the spread of existing SARS-CoV-2 variants and detect the emergence of new variants spreading in different regions.
Recent Developments
In December 2020, Pacific Biosciences announced that three of the United Kingdom’s leading core laboratories have increased their investment in the company’s Single Molecule, Real-Time (SMRT) Sequencing technology. The investment will enable Sequel II or Sequel IIe Systems to expand the delivery of highly accurate long-read sequencing services to researchers worldwide.
During the same month, data presented at the American Society for Microbiology NGS Conference shows effectiveness of PacBio’s highly accurate long-read sequencing platform in disease scrutiny. The long-read sequencing data generated by the Sequel II System has been incorporated with additional information collected by LabCorp by taking sample of infected people in the United States to highlight the role of geography, demographics, and chronological details.
Industry Prospects
Per a report by Grand View Research, the global next generation sequencing market size was valued at $3.99 billion in 2020 and is expected to reach $11.7 billion by 2028, at a CAGR of 14.4%. Hence, this development comes at an ideal time.
Price Performance
Shares of the company have gained 44.3% year to date compared with the industry’s growth of 2.9%.
Zacks Rank and Key Picks
Currently, Pacific Biosciences carries a Zacks Rank #4 (Sell).
AngioDynamics has a projected long-term earnings growth rate of 134%.
Hologic has an estimated long-term earnings growth rate of 121%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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Pacific Biosciences' (PACB) Sequel II Gets Deployed by LabCorp
Pacific Biosciences of California, Inc. (PACB - Free Report) recently announced that Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp has shown higher commitment toward the highly accurate HiFi sequencing through the addition of new PacBio Sequel II Systems. Pacific Biosciences’ contributions to the development of a production-scale assay have enabled LabCorp and the Centers for Disease Control and Prevention (CDC) to help understand the rapidly spread of new coronavirus variants.
For investor’s note, LabCorp and the CDC utilized PacBio HiFi sequencing data recently as well to detect the first known cases of infection from the B.1.351 variant, in both South Carolina and Virginia.
Notably, PacBio’s highly accurate HiFi sequencing offers distinct benefits that result in greater accuracy and enhance the understanding of population genetics and disease response from SARS-CoV-2 surveillance even at low coverage.
This development is likely to boost Pacific Biosciences’ flagship platform – the Sequel system.
More on the News
The advent of more infectious mutations in the United States and other regions across the globe has made it necessary for governments and public health organizations to quickly detect and track the different coronavirus strains in their communities through complete viral genome sequencing.
Per management, deployment of Sequel II HiFi sequencing is a major step by the company to stand in the fight against pandemic and to strengthen long-term viral surveillance plan worldwide.
The new PacBio Sequel II system will allow LabCorp to extend its ability to generate thousands of more complete coronavirus genomes each week from the sample of patients. Further, CDC will utilize these data to track the spread of existing SARS-CoV-2 variants and detect the emergence of new variants spreading in different regions.
Recent Developments
In December 2020, Pacific Biosciences announced that three of the United Kingdom’s leading core laboratories have increased their investment in the company’s Single Molecule, Real-Time (SMRT) Sequencing technology. The investment will enable Sequel II or Sequel IIe Systems to expand the delivery of highly accurate long-read sequencing services to researchers worldwide.
During the same month, data presented at the American Society for Microbiology NGS Conference shows effectiveness of PacBio’s highly accurate long-read sequencing platform in disease scrutiny. The long-read sequencing data generated by the Sequel II System has been incorporated with additional information collected by LabCorp by taking sample of infected people in the United States to highlight the role of geography, demographics, and chronological details.
Industry Prospects
Per a report by Grand View Research, the global next generation sequencing market size was valued at $3.99 billion in 2020 and is expected to reach $11.7 billion by 2028, at a CAGR of 14.4%. Hence, this development comes at an ideal time.
Price Performance
Shares of the company have gained 44.3% year to date compared with the industry’s growth of 2.9%.
Zacks Rank and Key Picks
Currently, Pacific Biosciences carries a Zacks Rank #4 (Sell).
A few better ranked-ranked stocks from the broader medical space are AngioDynamics, Inc. (ANGO - Free Report) and Hologic, Inc. (HOLX - Free Report) , both carrying Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
AngioDynamics has a projected long-term earnings growth rate of 134%.
Hologic has an estimated long-term earnings growth rate of 121%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>