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QIAGEN (QGEN) Gains from FDA's EUA for Antibody Total Test
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Shares of QIAGEN N.V. (QGEN - Free Report) rallied 1% till May 17 close following the receipt of the FDA’s Emergency Use Authorization (EUA) for QIAreach Anti-SARS-CoV-2 Total Test. The authorization will fortify QIAGEN’s portfolio of COVID-19 testing solutions.
Developed in partnership with Australian digital diagnostics company Ellume, this serological test has a sensitivity rate of 93.85% and a specificity rate of 97.83 %. The results can be observed digitally in approximately 10 minutes.
While other tests mostly identify only selected antibodies, QIAGEN’s technology detects total antibodies (Total immunoglobulin) specific to SARS-CoV-2. This test overcomes the shortcomings of traditional antibody tests by using automation and providing easy-to-read results on Ellume’s proprietary eHub.
Antibody Testing Market
As per a report by Intrado published in Globenewswire, the global COVID-19 antibody testing market size is expected to see a CAGR of 6.7% from 2020 to 2027. This is attributable to the fact that with rising infections, understanding and monitoring COVID-19 immunity is central to guiding public health measures in a society. Serological testing helps serve the cause by identifying individuals infected in the recent past, especially asymptomatic patients who were unaware of the infection in the first place.
QIAGEN's Response to COVID-19
Since the coronavirus outbreak, QIAGEN has been quick in its response to ensuring the availability and development of diagnostic solutions, which cater to the ever evolving testing requirements for SARS-CoV-2. The company offers a comprehensive portfolio of SARS-CoV-2 testing solutions, including the likes of QIAstat-Dx, NeuMoDx devices, QIAcuity digital PCR, QIAreach antigen test, QuantiFERON SARS-CoV-2 test and the recently launched SARS-CoV-2 Prep&Amp.
Owing to a surge in demand for significant antigen testing in Europe, QIAGEN has launched a CE-marked partnered solution, dedicated primarily to serve European markets at a moderate price. QIAGEN is also known to be the only company to have launched both an antibody and a T-cell test called QuantiFERON SARS-CoV-2 test.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 10.5 % against the industry’s decline of 8.3 %.
Adaptive Biotechnologies has a projected long-term earnings growth rate of 4.30 %.
Amedisys has a projected long-term earnings growth rate of 12 %.
Apollo Medical has a projected long-term earnings growth rate of 5 %.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
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QIAGEN (QGEN) Gains from FDA's EUA for Antibody Total Test
Shares of QIAGEN N.V. (QGEN - Free Report) rallied 1% till May 17 close following the receipt of the FDA’s Emergency Use Authorization (EUA) for QIAreach Anti-SARS-CoV-2 Total Test. The authorization will fortify QIAGEN’s portfolio of COVID-19 testing solutions.
Developed in partnership with Australian digital diagnostics company Ellume, this serological test has a sensitivity rate of 93.85% and a specificity rate of 97.83 %. The results can be observed digitally in approximately 10 minutes.
While other tests mostly identify only selected antibodies, QIAGEN’s technology detects total antibodies (Total immunoglobulin) specific to SARS-CoV-2. This test overcomes the shortcomings of traditional antibody tests by using automation and providing easy-to-read results on Ellume’s proprietary eHub.
Antibody Testing Market
As per a report by Intrado published in Globenewswire, the global COVID-19 antibody testing market size is expected to see a CAGR of 6.7% from 2020 to 2027. This is attributable to the fact that with rising infections, understanding and monitoring COVID-19 immunity is central to guiding public health measures in a society. Serological testing helps serve the cause by identifying individuals infected in the recent past, especially asymptomatic patients who were unaware of the infection in the first place.
QIAGEN's Response to COVID-19
Since the coronavirus outbreak, QIAGEN has been quick in its response to ensuring the availability and development of diagnostic solutions, which cater to the ever evolving testing requirements for SARS-CoV-2. The company offers a comprehensive portfolio of SARS-CoV-2 testing solutions, including the likes of QIAstat-Dx, NeuMoDx devices, QIAcuity digital PCR, QIAreach antigen test, QuantiFERON SARS-CoV-2 test and the recently launched SARS-CoV-2 Prep&Amp.
Owing to a surge in demand for significant antigen testing in Europe, QIAGEN has launched a CE-marked partnered solution, dedicated primarily to serve European markets at a moderate price. QIAGEN is also known to be the only company to have launched both an antibody and a T-cell test called QuantiFERON SARS-CoV-2 test.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 10.5 % against the industry’s decline of 8.3 %.
Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space include Adaptive Biotechnologies Corporation (ADPT - Free Report) , Amedisys, Inc. (AMED - Free Report) and Apollo Medical Holdings, Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Adaptive Biotechnologies has a projected long-term earnings growth rate of 4.30 %.
Amedisys has a projected long-term earnings growth rate of 12 %.
Apollo Medical has a projected long-term earnings growth rate of 5 %.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>