Illumina, Inc. (ILMN - Free Report) , a major provider of medical devices, recently launched TruSight Tumor 170 – a 170 gene next-generation sequencing solution for research use only. According to the company, this solution will support the transformation of tumor-profiling paradigm from a series of single-gene tests to a multi-analyte approach. The new assay is claimed to offer a clear insight into a tumor’s genomic landscape. The product will be launched commercially in 2017.
TruSight Tumor 170 provides an integrated DNA and RNA enrichment-based workflow which targets cancer-related genetic aberrations, including small variants, gene amplifications, gene fusions, and splice variants. With optimized bioinformatics tools and automation options, laboratories can apply the assay for an in-house, research use.
The assay has been designed to support limited nucleic acid input from formalin-fixed, paraffin-embedded samples. It also facilitates efficient evaluation of biomarkers. Management states that the new solution will help realize the potential of precision oncology. Owing to the flexibility of the enrichment methodology TruSight Tumor 170 is based upon, this technology may serve as a platform for many applications beyond solid tumor profiling.
The broader investigational power of TruSight Tumer 170 is believed to improve cancer research and optimize tissue assessments across a variety of applications with both fixed and customizable panels. Integrating DNA and RNA into one protocol enables researchers to accelerate comprehensive analysis of cancer-related variants and maximize the data obtainable from precious specimen.
As per a MarketsandMarkets report, the next generation sequencing market is expected to reach a worth of $10,371.1 million by 2021 from $4,031.7 million in 2016, at a CAGR of 20.8%. Meanwhile, Illumina’s TruSight Tumor 170 launch is aimed at tapping into the growing DNA sequencing market.
Illumina aims to improve human health by gaining traction in the research, clinical and applied markets through innovation and the launch of advanced technology. In this regard, we note that in the last reported third quarter, Illumina witnessed 24% growth in Oncology testing shipments compared to the prior year, courtesy of the company’s continuous efforts to capitalize on the growing oncology market.
Zacks Rank & Key Picks
Illumina currently carries a Zacks Rank #5 (Strong Sell). Better-ranked medical stocks are GW Pharmaceuticals plc (GWPH - Free Report) , Baxter International Inc. (BAX - Free Report) and Bovie Medical Corporation . GW Pharmaceuticals and Baxter sport a Zacks Rank #1 (Strong Buy) while Bovie Medical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GW Pharmaceuticals surged 73.2% year to date compared to the S&P 500’s 4.7% over the same period. The company has a four-quarter positive average earnings surprise of 41.6%.
Baxter international rallied 26.6% in the past one year, comparing favorably with the S&P 500’s 2.7%. It has a trailing four-quarter average positive earnings surprise of 27%.
Bovie Medical recorded a 150.0% gain in the past one year, way better than the S&P 500’s 2.7%. The company has a trailing four-quarter positive average earnings surprise of 28.7%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>