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PacBio (PACB)-UCLA Health Tie Up for Rare Diseases' WGS Research
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Pacific Biosciences of California, Inc. (PACB - Free Report) , popularly known as PacBio, recently partnered with the UCLA Institute for Precision Health and David Geffen School of Medicine at UCLA. The research collaboration is aimed at further identifying the causes behind rare diseases.
For investors’ note, the study will leverage PacBio’s HiFi long-read sequencing technology for whole-genome sequencing (“WGS”) to check undiagnosed pediatric rare disease patients who have already been sequenced with short-read technology.
The latest research collaboration is expected to significantly strengthen PacBio’s global genetic analysis business.
Rationale Behind the Collaboration
The research partnership aims to identify variants that are not easily detectable by short-read sequencing, thereby increasing diagnostic yield in rare disease patients.
Per an expert associated with the study, the full-length isoform sequencing (Iso-Seq) and long-read WGS will be used in combination, which is an effort to examine the effect on diagnostic yield in these unresolved cases. Further, a genetic diagnosis provides clarity, leading to more effective treatments to avoid long-term complications.
Per PacBio’s management, the latest research collaboration with UCLA Health is likely to use HiFi sequencing as an essential new tool for detecting large or challenging variants missed by short-read sequencing. This is expected to aid in potentially reducing the diagnosis time.
Industry Prospects
Per a report by Research And Markets published on GlobeNewswire, the global whole-genome and exome sequencing market was valued at $497.1 million in 2018 and is projected to grow over $7,303 million by 2029 at a CAGR of approximately 26.9%. Factors like the rising prevalence of genetic disorders and various types of cancer are expected to drive the market.
Given the market potential, the collaboration seems to have been timed well.
Notable Developments
PacBio has been witnessing a slew of developments across its business over the past few months.
In November, the company tied up with ARUP Laboratories regarding a study intended to assess whether the solve rate for rare disease cases can be increased.
The same month, PacBio launched the HiFiViral SARS-CoV-2 Kit — a fully kitted end-to-end solution for COVID-19 surveillance — which public health laboratories can use to identify new SARS-CoV-2 variants and detect all variants circulating within a population.
Also in November, the company announced third-quarter 2021 financial results, reporting robust overall and segmental revenues. PacBio’s geographical performances were also strong. The company’s expanding base of Sequel II/IIe systems is encouraging as well.
Price Performance
Shares of the company have gained 4.4% in the past year compared with the industry’s 8.8% rise and S&P 500’s 28.8% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, PacBio carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp, Thermo Fisher Scientific Inc. (TMO - Free Report) and AMN Healthcare Services (AMN - Free Report) .
LabCorp, carrying a Zacks Rank #2 (Buy), reported third-quarter 2021 adjusted earnings per share (EPS) of $6.82, which beat the Zacks Consensus Estimate by 42.9%. Revenues of $4.06 billion outpaced the consensus mark by 13.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LH has an estimated long-term growth rate of 10.6%. The company surpassed estimates in the trailing four quarters, the average surprise being 25.73%.
Thermo Fisher reported third-quarter 2021 adjusted EPS of $5.76, which surpassed the Zacks Consensus Estimate by 23.3%. Third-quarter revenues of $9.33 billion outpaced the Zacks Consensus Estimate by 12%. It currently carries a Zacks Rank #2.
Thermo Fisher has an estimated long-term growth rate of 14%. The company surpassed estimates in the trailing four quarters, the average surprise being 9.02%.
AMN Healthcare reported third-quarter 2021 adjusted EPS of $1.73, which surpassed the Zacks Consensus Estimate by 29.1%. Third-quarter revenues of $877.8 million outpaced the Zacks Consensus Estimate by 12.3%. It currently sports a Zacks Rank #1.
AMN Healthcare has an estimated long-term growth rate of 16.2%. The company surpassed estimates in the trailing four quarters, the average surprise being 19.51%.
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PacBio (PACB)-UCLA Health Tie Up for Rare Diseases' WGS Research
Pacific Biosciences of California, Inc. (PACB - Free Report) , popularly known as PacBio, recently partnered with the UCLA Institute for Precision Health and David Geffen School of Medicine at UCLA. The research collaboration is aimed at further identifying the causes behind rare diseases.
For investors’ note, the study will leverage PacBio’s HiFi long-read sequencing technology for whole-genome sequencing (“WGS”) to check undiagnosed pediatric rare disease patients who have already been sequenced with short-read technology.
The latest research collaboration is expected to significantly strengthen PacBio’s global genetic analysis business.
Rationale Behind the Collaboration
The research partnership aims to identify variants that are not easily detectable by short-read sequencing, thereby increasing diagnostic yield in rare disease patients.
Per an expert associated with the study, the full-length isoform sequencing (Iso-Seq) and long-read WGS will be used in combination, which is an effort to examine the effect on diagnostic yield in these unresolved cases. Further, a genetic diagnosis provides clarity, leading to more effective treatments to avoid long-term complications.
Per PacBio’s management, the latest research collaboration with UCLA Health is likely to use HiFi sequencing as an essential new tool for detecting large or challenging variants missed by short-read sequencing. This is expected to aid in potentially reducing the diagnosis time.
Industry Prospects
Per a report by Research And Markets published on GlobeNewswire, the global whole-genome and exome sequencing market was valued at $497.1 million in 2018 and is projected to grow over $7,303 million by 2029 at a CAGR of approximately 26.9%. Factors like the rising prevalence of genetic disorders and various types of cancer are expected to drive the market.
Given the market potential, the collaboration seems to have been timed well.
Notable Developments
PacBio has been witnessing a slew of developments across its business over the past few months.
In November, the company tied up with ARUP Laboratories regarding a study intended to assess whether the solve rate for rare disease cases can be increased.
The same month, PacBio launched the HiFiViral SARS-CoV-2 Kit — a fully kitted end-to-end solution for COVID-19 surveillance — which public health laboratories can use to identify new SARS-CoV-2 variants and detect all variants circulating within a population.
Also in November, the company announced third-quarter 2021 financial results, reporting robust overall and segmental revenues. PacBio’s geographical performances were also strong. The company’s expanding base of Sequel II/IIe systems is encouraging as well.
Price Performance
Shares of the company have gained 4.4% in the past year compared with the industry’s 8.8% rise and S&P 500’s 28.8% growth.
Zacks Rank & Stocks to Consider
Currently, PacBio carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp, Thermo Fisher Scientific Inc. (TMO - Free Report) and AMN Healthcare Services (AMN - Free Report) .
LabCorp, carrying a Zacks Rank #2 (Buy), reported third-quarter 2021 adjusted earnings per share (EPS) of $6.82, which beat the Zacks Consensus Estimate by 42.9%. Revenues of $4.06 billion outpaced the consensus mark by 13.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LH has an estimated long-term growth rate of 10.6%. The company surpassed estimates in the trailing four quarters, the average surprise being 25.73%.
Thermo Fisher reported third-quarter 2021 adjusted EPS of $5.76, which surpassed the Zacks Consensus Estimate by 23.3%. Third-quarter revenues of $9.33 billion outpaced the Zacks Consensus Estimate by 12%. It currently carries a Zacks Rank #2.
Thermo Fisher has an estimated long-term growth rate of 14%. The company surpassed estimates in the trailing four quarters, the average surprise being 9.02%.
AMN Healthcare reported third-quarter 2021 adjusted EPS of $1.73, which surpassed the Zacks Consensus Estimate by 29.1%. Third-quarter revenues of $877.8 million outpaced the Zacks Consensus Estimate by 12.3%. It currently sports a Zacks Rank #1.
AMN Healthcare has an estimated long-term growth rate of 16.2%. The company surpassed estimates in the trailing four quarters, the average surprise being 19.51%.