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PerkinElmer's (PKI) Arm Introduces Two CE-Marked Assays

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PerkinElmer, Inc.’s (PKI - Free Report) company — EUROIMMUN — recently introduced two CE-marked assays that allow the identification of IgG antibodies that form against SARS-CoV-2 and are available to laboratories in countries accepting the CE mark. The two assays are the Anti-SARS-CoV-2 RBD ChLIA (IgG) and the Anti-SARS-CoV-2 Omicron ELISA (IgG).

It is worth mentioning that the EUROIMMUNCOVID-19 diagnostics portfolio also comprises two real-time PCR tests, an antigen ELISA for acute diagnostics, and a number of serological tests for differentiated identification of antibodies (IgA, IgM, IgG) against SARS-CoV-2 antigens. Apart from this, EUROIMMUN provides an Interferon-gamma Release Assay (IGRA) to ascertain the activity of SARS-CoV-2-reactive T cells.

This announcement is likely to provide a boost to the company’s Diagnostics business.

More on the News

According to research, immune responses to SARS-CoV-2 infection (usually measured by neutralizing antibody titers) can be extremely varied among people. The understanding of how antibody levels decline over a period of time in certain individuals and populations can produce answers with respect to crucial epidemiological, clinical and virological questions.

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Per management at EUROIMMUN, at present, there is no uniform serological correlate that can determine if a person’s immune system has the capability to effectively defend against SARS-CoV-2. Due to this, continued research into humoral immunity and the body’s response to pathogens like SARS-CoV-2 remains critical, thereby enabling the company to continue innovating and developing assays to aid discoveries in this space.

It is noteworthy to mention that the Anti-SARS-CoV-2 RBD ChLIA (IgG) assay is suitable for the determination of IgG antibody responses both after infection or vaccination with a spike protein-based vaccine. Meanwhile, the Anti-SARS-CoV-2 Omicron ELISA (IgG) complements EUROMMUN's portfolio of SARS-CoV-2 offerings.

Market Prospects

Per a report by Grand View Research, the global research antibodies market size was worth $3.6 billion in 2020 and is anticipated to witness a CAGR of 6.4% from 2021 to 2028. Hence, this announcement is well-timed for PerkinElmer’s company.

Recent Developments

This month, PerkinElmer introduced the research use only (RUO) BioQule NGS System, which is an automated benchtop solution for next-generation sequencing (NGS) library preparation of up to eight samples. Backed by automated thermocycling, integrated quality control through optical quantification and strong liquid handling technology into a single device, the BioQule NGS System can help researchers in delivering superior quality NGS libraries.

Last month, PerkinElmer announced that ultrarapid whole genome sequencing (urWGS) would be available through PerkinElmer Genomics. This latest addition to the company’s whole genome sequencing (WGS) testing menu will help physicians with all-inclusive and meaningful results in five days to inform clinical management and bolster outcomes for critically ill patients in neonatal and pediatric intensive care units (NICUs and PICUs).

Price Performance

Shares of the Zacks Rank #3 (Hold) company have lost 8.8% in a year’s time compared with the industry’s decline of 12.1%.

Stocks to Consider

Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Masimo Corporation (MASI - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .

AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.6%. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare’s long-term earnings growth rate is estimated at 1.1%. The company’s earnings yield of 11.4% compares favorably with the industry’s (0.8%).

Masimo beat earnings estimates in each of the trailing four quarters, the average surprise being 4.4%. The company currently carries a Zacks Rank #2 (Buy).

Masimo’s estimated earnings growth rate for second-quarter 2022 is pegged at 22.3%. The company’s earnings yield is 3.8% against the industry’s (8.5%).

ShockWave Medical surpassed earnings estimates in each of the trailing four quarters, the average surprise being 189.9%. The company currently sports a Zacks Rank #1.

ShockWave Medical’s earnings growth rate for 2022 is estimated at 807.7%. The company’s earnings yield of 0.9% compares favorably with the industry’s (8%).