Pacific Biosciences of California, Inc. ( PACB Quick Quote PACB - Free Report) , also popularly known as PacBio, recently introduced the HiFiViral SARS-CoV-2 Kit, which is a fully kitted end-to-end solution for COVID-19 surveillance. This solution will help public health laboratories to identify new SARS-CoV-2 variants and identify all variants circulating within a population. Interestingly, the HiFiViral SARS-CoV-2 Kit is the company’s first kitted solution for genomic surveillance of the COVID-19 variants. The assay supports PacBio’s reliable HiFi sequencing to offer researchers a complete view of novel mutations of all types, thus making sure that emerging variants are recognized. Along with the HiFiViral SARS-CoV-2 kit, PacBio is also launching an improved end-to-end HiFi microbial whole genome assembly application and companion Single Molecule, Real-Time (SMRT) Link software on the Sequel IIe System. Presently, the HiFiViral SARS-CoV-2 Kit is being shipped. The components for the HiFi microbial whole genome assembly application will commence shipping this quarter. This announcement is likely to provide a boost to PacBio’s robust sequencing technology. More on the News
Per management, correct and timely detection of new variants of concern is crucial when it comes to the protection of public health. The company remains focused on investing in applications that enhance human health. The launch of this solution is a step toward it.
The solution provides a differentiated technology on the back of proven HiFi sequencing and aids in addressing workflow and supply chain bottlenecks that have affected SARS-CoV-2 surveillance efforts to date. This, in turn, will enable laboratories to scale their testing easily. Image Source: Zacks Investment Research
Apart from this, the HiFiViral SARS-CoV-2 workflow is a cost-effective and correct method for viral sequencing, using molecular inversion probes (MIPs) that substantially facilitate workflow improvements when compared to traditional polymerase chain reaction (PCR) amplicon-based methods. In addition, HiFi sequencing allows laboratories to detect multiple virus types present within a single sample.
a report by Grand View Research, the global genomics market was valued at $20.1 billion in 2020 and is projected to witness a CAGR of 15.4% from 2021 to 2028. Hence, this launch is a well-timed one for PacBio. Recent Developments
This month, PacBio’s Sequel IIe System was chosen by Prenetics Group Limited to develop personalized genomics for healthcare.
In September, the company collaborated with The European Reference Genome Atlas consortium to lend support to its efforts in the improvement of biodiversity research, advancement of conservation with actionable and correct genomic data. Price Performance
Shares of this Zacks Rank #4 (Sell) company have gained 4.3% on a year-to-date basis compared with the
industry’s growth of 11.8%. Stocks to Consider
Some better-ranked stocks in the broader medical space include
Thermo Fisher Scientific Inc. ( TMO Quick Quote TMO - Free Report) , McKesson Corporation ( MCK Quick Quote MCK - Free Report) and AngioDynamics, Inc. ( ANGO Quick Quote ANGO - Free Report) . Thermo Fisher surpassed earnings estimates in each of the trailing four quarters, the average surprise being 9.02%. The company currently sports a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Thermo Fisher’s long-term earnings growth rate is estimated at 14%. The company’s earnings yield of 3.7% compares favorably with the industry’s (3.6%). McKesson beat earnings estimates in each of the trailing four quarters, the average surprise being 19.9%. The company currently carries a Zacks Rank #2 (Buy). McKesson’s long-term earnings growth rate is estimated at 8.9%. The company’s earnings yield of 9.9% compares favorably with the industry’s 3.2%. AngioDynamics surpassed earnings estimates in three of the trailing four quarters and missed once, the average surprise being 125.6%. The company currently carries a Zacks Rank #2. AngioDynamics’ consensus mark for revenues for fiscal 2022 stands at $313.3 million, suggesting an improvement of 7.7% from the prior-year reported figure. The company’s earnings yield of 0.1% compares favorably with the industry’s (3.6%).