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PerkinElmer's (PKI) Latest Launch to Boost Research Workflows
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PerkinElmer, Inc. recently launched the EnVision Nexus system. The platform, which is the company’s fastest and most sensitive multimode plate reader to date, has been designed for demanding high-throughput screening applications and for accelerating drug discovery efforts.
PerkinElmer will be showcasing the ultrasensitive platform for high-throughput screening applications at SLAS2023, along with its newest NGS liquid handler, while highlighting other workflow innovations.
The latest launch will likely significantly strengthen PerkinElmer's Life Sciences business unit in the broader Discovery & Analytical Solutions segment.
Significance of the Launch
The EnVision Nexus platform, with complementary microplates and optimized reagents from PerkinElmer’s drug discovery reagents portfolio (including proprietary HTRF and AlphaLISA technologies and the latest reagent kits), is expected to provide researchers with increased assay flexibility.
The EnVision Nexus system, which features high-throughput and fast dual detectors, is expected to enable researchers to screen millions of samples with increased accuracy, speed and sensitivity.
Per management, the company is currently focusing on transforming drug discovery, which begins in the lab. It is here where the researchers can leverage multimode plate reader technology, like the EnVision Nexus system, to increase R&D productivity at almost every stage of their process.
Industry Prospects
Per a report by Precedence Research, the global drug discovery market was valued at $74.96 billion in 2021 and is expected to be worth around $161.76 billion by 2030 at a CAGR of 8.9%. Factors like the rising prevalence of various chronic diseases, rising healthcare expenditure and the growth in the pharmaceutical industry led by the rapid growth of biopharmaceuticals are likely to drive the market.
Given the market potential, the latest launch is expected to strengthen PerkinElmer’s global business.
Recent Developments in Discovery & Analytical Solutions Segment
This month, PerkinElmer reported its results for fourth-quarter 2022, where its Discovery & Analytical Solutions segment reported a robust uptick in revenues from continuing operations, both on a reported and organic basis. Also, on a combined operations basis (combination of continuing operations and discontinued operations), the segment reported solid revenues on a reported and organic basis.
In November 2022, PerkinElmer launched ready-to-use Adeno-associated Virus Vectors Detection Kits to aid researchers working on gene therapies for various serious diseases. The validated and fully-automatable assays are built on PerkinElmer's proprietary AlphaLISA technology.
Price Performance
Shares of the company have lost 30.5% in the past year compared with the industry’s 8.3% decline and the S&P 500's 9.2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, PerkinElmer carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , McKesson Corporation (MCK - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hologic has gained 13.3% against the industry’s 14.7% decline in the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.4%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 3.4%.
McKesson has gained 30.8% against the industry’s 8.2% decline over the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 19.1% compared with the industry’s 14.7% decline over the past year.
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PerkinElmer's (PKI) Latest Launch to Boost Research Workflows
PerkinElmer, Inc. recently launched the EnVision Nexus system. The platform, which is the company’s fastest and most sensitive multimode plate reader to date, has been designed for demanding high-throughput screening applications and for accelerating drug discovery efforts.
PerkinElmer will be showcasing the ultrasensitive platform for high-throughput screening applications at SLAS2023, along with its newest NGS liquid handler, while highlighting other workflow innovations.
The latest launch will likely significantly strengthen PerkinElmer's Life Sciences business unit in the broader Discovery & Analytical Solutions segment.
Significance of the Launch
The EnVision Nexus platform, with complementary microplates and optimized reagents from PerkinElmer’s drug discovery reagents portfolio (including proprietary HTRF and AlphaLISA technologies and the latest reagent kits), is expected to provide researchers with increased assay flexibility.
The EnVision Nexus system, which features high-throughput and fast dual detectors, is expected to enable researchers to screen millions of samples with increased accuracy, speed and sensitivity.
Per management, the company is currently focusing on transforming drug discovery, which begins in the lab. It is here where the researchers can leverage multimode plate reader technology, like the EnVision Nexus system, to increase R&D productivity at almost every stage of their process.
Industry Prospects
Per a report by Precedence Research, the global drug discovery market was valued at $74.96 billion in 2021 and is expected to be worth around $161.76 billion by 2030 at a CAGR of 8.9%. Factors like the rising prevalence of various chronic diseases, rising healthcare expenditure and the growth in the pharmaceutical industry led by the rapid growth of biopharmaceuticals are likely to drive the market.
Given the market potential, the latest launch is expected to strengthen PerkinElmer’s global business.
Recent Developments in Discovery & Analytical Solutions Segment
This month, PerkinElmer reported its results for fourth-quarter 2022, where its Discovery & Analytical Solutions segment reported a robust uptick in revenues from continuing operations, both on a reported and organic basis. Also, on a combined operations basis (combination of continuing operations and discontinued operations), the segment reported solid revenues on a reported and organic basis.
In November 2022, PerkinElmer launched ready-to-use Adeno-associated Virus Vectors Detection Kits to aid researchers working on gene therapies for various serious diseases. The validated and fully-automatable assays are built on PerkinElmer's proprietary AlphaLISA technology.
Price Performance
Shares of the company have lost 30.5% in the past year compared with the industry’s 8.3% decline and the S&P 500's 9.2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, PerkinElmer carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , McKesson Corporation (MCK - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hologic has gained 13.3% against the industry’s 14.7% decline in the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.4%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 3.4%.
McKesson has gained 30.8% against the industry’s 8.2% decline over the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 19.1% compared with the industry’s 14.7% decline over the past year.