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QIAGEN (QGEN) QIAxcel Connect Gets Red Dot Design Award

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QIAGEN N.V. (QGEN - Free Report) recently announced that QIAxcel Connect won the prestigious Red Dot award. With this, QIAxcel marks the fourth QIAGEN instrument for receiving the Red Dot award, highlighting the strategy of upgrading the portfolio to add new features, particularly wireless connectivity.

The recent development is likely to bolster QIAGEN’s Life Sciences Business segment.

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QIAxcel Connect automates the analysis of the size and quality of isolated DNA and RNA. It combines ease of use, high capability, flexible throughput and economy in a single instrument.

Scientists insert a cartridge intended to include everything needed and then add their samples. The system automatically performs the analysis and displays real-time results on a connected computer, and the run status can be monitored anywhere via a secured cloud connection.

QIAxcel Connect offers options for customization to suit personalization needs. Scientists benefit from minimal handling time, flexible throughput and the system’s speed. It also offers high analytical power, with many applications addressed.

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Compared to other electrophoresis instruments, QIAxcel Connect also offers better convenience due to its simple set-up, greater flexibility and low running costs.

Benefits of the QIAxcel Connect

Scientists can utilize QIAxcel Connect for a wide range of laboratory application areas, including food and microbial testing, academic research, or disease and therapeutic research.

QIAxcel Connect is highly appropriate for analysis and quality control of next-generation sequencing (NGS) libraries, as well as low-concentration samples (such as liquid biopsies), degraded samples (such as formalin-fixed paraffin-embedded tissues), and multiplex PCR products with high-resolution requirements.

Industry Prospects

Per a report by Grand View Research, the global RNA analysis market size was valued at $10.64 billion in 2021 and is anticipated to expand at a CAGR of 16.59%. Increased technological advancement activities in transcriptomics and a rise in funding by numerous government and private organizations are driving the market.

Recent Developments

QIAGEN has entered into a strategic partnership with Servier. The agreement is intended to develop a companion diagnostic test for TIBSOVO — an isocitrate dehydrogenase-1 or IDH1 inhibitor indicated for treating the blood cancer acute myeloid leukemia or AML.

In January 2023, QIAGEN’s bioinformatics business, QIAGEN Digital Insights, announced its enhanced QIAGEN CLC Genomics Workbench Premium that removes the data-analysis bottleneck of next-generation sequencing (NGS) by adding innovative analysis speed to analyze and interpret whole genome sequencing, whole exome sequencing and large panel sequencing data.

The same month, QIAGEN completed the acquisition of Verogen, a renowned name in the use of NGS technologies to drive the future of human identification and forensic investigation.

Price Performance

Shares of the company have lost 6.3% in a year against the industry’s fall of 12.6%.

Zacks Rank and Key Picks

QIAGEN carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .

Hologic, carrying a Zacks Rank #2 (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 (Strong Buy) stocks here.

Hologic has gained 1.7% against the industry’s 17.5% growth in the past year.

Henry Schein, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched the same in the other, the average beat being 2.9%.

Henry Schein has lost 12.4% compared with the industry’s 10.9% decline in 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 13.7% compared with the industry’s 17.5% decline in the past year.

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