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QIAGEN (QGEN) QCI's Robust Adoption to Enhance Patient Outcome
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QIAGEN N.V. (QGEN - Free Report) recently announced that its decision-support software platform — QIAGEN Clinical Insights (“QCI”) — has been performing quite well in recent times. The platform has already been used to interpret more than three million patients’ molecular profiles for hereditary and oncological diseases since its inception.
Per QIAGEN, the adoption of the QCI platform has been a landmark for the QCI portfolio of clinical software and professional services for the interpretation and reporting of variants from next-generation sequencing (“NGS”) testing.
This latest achievement by QIAGEN is likely to further solidify its foothold in the global precision medicine space besides boosting its bioinformatics business.
Significance of the Milestone
Per QIAGEN’s management, surpassing three million patient cases interpretations using the QCI solution indicates the gradually important role the company’s bioinformatics solutions are playing in becoming the standard of care for patients. Management believes that this is in line with its aim of delivering precision medicine.
Further, the content core of the QCI portfolio — the QIAGEN Knowledge Base — is powered by augmented molecular intelligence. It combines artificial intelligence and human expertise to advance and accelerate confident clinical decision-making.
Per an expert familiar with the QCI solution, QIAGEN’s QCI Interpret software has enabled them to overcome one of the biggest challenges of comprehensive genomic profiling (“CGP”), bioinformatics. Owing to this solution, labs can scale from a targeted gene panel to a CGP gene panel, while reducing cost, time and labor.
Industry Prospects
Per a report by Precedence Research, the global precision medicine market was valued at $66.1 billion in 2021 and is anticipated to reach $175.64 billion by 2030 at a CAGR of 11.5%. Factors like advancements in cancer biologics and an increasing number of patients undergoing predictive diagnosis are expected to drive the market.
Given the market potential, QIAGEN’s recent milestone is likely to provide a significant boost to its business globally.
Notable Developments
In May, QIAGEN launched the therascreen EGFR Plus RGQ PCR (polymerase chain reaction) Kit, a new in-vitro diagnostic test for sensitive EGFR mutation analysis, detecting all currently known activating and resistance EGFR mutations.
The same month, QIAGEN launched QIAstat-Dx Rise — a high-capacity version of the QIAstat-Dx automated syndromic system — and enhancements to the menu of tests for the fully integrated one-step molecular testing solution that provides results in about an hour.
Also in May, QIAGEN announced that its NeuMoDx HSV 1/2 Quant Assay for the quantification and differentiation of herpes simplex virus type 1 (HSV-1) DNA and/or herpes simplex virus type 2 (HSV-2) has received CE-IVD certification for the European Union and other countries that accept this marking.
Price Performance
Shares of the company have lost 6.9% in the past year compared with the industry’s 37.2% fall and the S&P 500’s 17.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
AMN Healthcare has gained 23.7% against the industry’s 31.3% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.6%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.
Patterson Companies has gained 0.8% against the industry’s 10.5% fall over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 9.5%. MCK’s earnings surpassed estimates in three of the trailing four quarters, the average beat being 19.5%.
McKesson has gained 67% against the industry’s 10.5% fall over the past year.
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QIAGEN (QGEN) QCI's Robust Adoption to Enhance Patient Outcome
QIAGEN N.V. (QGEN - Free Report) recently announced that its decision-support software platform — QIAGEN Clinical Insights (“QCI”) — has been performing quite well in recent times. The platform has already been used to interpret more than three million patients’ molecular profiles for hereditary and oncological diseases since its inception.
Per QIAGEN, the adoption of the QCI platform has been a landmark for the QCI portfolio of clinical software and professional services for the interpretation and reporting of variants from next-generation sequencing (“NGS”) testing.
This latest achievement by QIAGEN is likely to further solidify its foothold in the global precision medicine space besides boosting its bioinformatics business.
Significance of the Milestone
Per QIAGEN’s management, surpassing three million patient cases interpretations using the QCI solution indicates the gradually important role the company’s bioinformatics solutions are playing in becoming the standard of care for patients. Management believes that this is in line with its aim of delivering precision medicine.
Further, the content core of the QCI portfolio — the QIAGEN Knowledge Base — is powered by augmented molecular intelligence. It combines artificial intelligence and human expertise to advance and accelerate confident clinical decision-making.
Per an expert familiar with the QCI solution, QIAGEN’s QCI Interpret software has enabled them to overcome one of the biggest challenges of comprehensive genomic profiling (“CGP”), bioinformatics. Owing to this solution, labs can scale from a targeted gene panel to a CGP gene panel, while reducing cost, time and labor.
Industry Prospects
Per a report by Precedence Research, the global precision medicine market was valued at $66.1 billion in 2021 and is anticipated to reach $175.64 billion by 2030 at a CAGR of 11.5%. Factors like advancements in cancer biologics and an increasing number of patients undergoing predictive diagnosis are expected to drive the market.
Given the market potential, QIAGEN’s recent milestone is likely to provide a significant boost to its business globally.
Notable Developments
In May, QIAGEN launched the therascreen EGFR Plus RGQ PCR (polymerase chain reaction) Kit, a new in-vitro diagnostic test for sensitive EGFR mutation analysis, detecting all currently known activating and resistance EGFR mutations.
The same month, QIAGEN launched QIAstat-Dx Rise — a high-capacity version of the QIAstat-Dx automated syndromic system — and enhancements to the menu of tests for the fully integrated one-step molecular testing solution that provides results in about an hour.
Also in May, QIAGEN announced that its NeuMoDx HSV 1/2 Quant Assay for the quantification and differentiation of herpes simplex virus type 1 (HSV-1) DNA and/or herpes simplex virus type 2 (HSV-2) has received CE-IVD certification for the European Union and other countries that accept this marking.
Price Performance
Shares of the company have lost 6.9% in the past year compared with the industry’s 37.2% fall and the S&P 500’s 17.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 23.7% against the industry’s 31.3% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.6%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.
Patterson Companies has gained 0.8% against the industry’s 10.5% fall over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 9.5%. MCK’s earnings surpassed estimates in three of the trailing four quarters, the average beat being 19.5%.
McKesson has gained 67% against the industry’s 10.5% fall over the past year.