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QIAGEN Launches QIAcuityDx Digital PCR System: Stock to Gain?
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QIAGEN N.V. (QGEN - Free Report) recently launched its QIAcuityDx Digital PCR System, whose instrument and accessories are Food and Drug Administration (“FDA”) 510(k) approved and In Vitro Diagnostic Regulation (“IVDR”) certified for diagnostic use in Europe.
The newly launched QIAcuityDx Digital PCR System is an addition to the company’s digital PCR portfolio.
QGEN’s Likely Stock Trend Following the News
Subsequent to the news, share price of QGEN remained unchanged at $45.47 in after-market trading yesterday. The company is gaining a high level of synergies from its significant investments in the expansion of its key platform, QIAcuity. We expect the latest launch to motivate market sentiment in favor of QGEN in the coming days.
QGEN currently has a market capitalization of $10.15 billion. In the last reported quarter, it delivered an earnings surprise of 5.77%. The company has a trailing four-quarter average earnings surprise of 2.64%.
About QGEN’S QIAcuityDx Digital PCR System
QIAcuityDx streamlines clinical testing by providing highly precise, absolute quantitation of target DNA and RNA, supporting applications with less invasive liquid biopsies.
The QIAcuityDx platform is an In vitro diagnostics (“IVD”) medical device that integrates partitioning, thermocycling and imaging into a streamlined 5-plex workflow within a single instrument. It has the capability to process up to four nanoplates simultaneously. It reduces lab space requirements, servicing needs and operator time.
QIAcuityDx software is designed for diagnostic use, featuring a user-friendly interface and comprehensive audit trail compliant with modern lab requirements. It includes two modes — IVD and Utility. The QIAcuity-DX platform supports continuous sample loading and flexible scheduling, accommodating urgent testing needs without compromising patient results.
QGEN’s Business Advancements
QIAGEN is rapidly expanding the application menu available on QIAcuityDx System. In line with this, the company plans for FDA submission in 2025 for a new BCR::ABL assay for oncohematology. The platform also provides immediate access to QIAGEN’s full portfolio of research-use products and applications via its GeneGlobe platform.
QIAGEN has already signed three partnerships with pharmaceutical companies to develop companion diagnostics on the QIAcuityDx, moving digital PCR into precision medicine. QIAGEN plans to further enhance the future assay portfolio by collaborating with third parties, who will develop their own assays for the platform.
The adoption of QIAcuity digital PCR research instrument is strong. Key customers include pharmaceutical and biotechnology companies, academic and research organizations, and forensic laboratories.
QIGEN’s Recent Development
Last month, QIAGEN and Becton, Dickinson and Company or BD’s joint venture, PreAnalytiX GmbH, launched the PAXgene Urine Liquid Biopsy Set. PAXgene will be used for reliable analysis of cell-free DNA (cfDNA) from urine with most molecular testing technologies, including qPCR, digital PCR and next-generation sequencing. QIAGEN will commercialize the newly launched set with the first verified, standardized and complete preanalytical workflow from urine collection, stabilization and isolation of cfDNA.
Image Source: Zacks Investment Research
Industry Prospect Favors QGEN
Per a Grand View Research report, the global oncology clinical trials market was valued at $12.92 billion in 2022 and is anticipated to witness a compound annual growth rate of 5.2% from 2023 to 2030. The market is primarily driven by factors such as an increase in technological advancements, a rise in cancer incidences, and improvements in personalized medicine and cell and gene therapies.
QGEN Stock’s Price Performance
In the past year, shares of QGEN have risen 10.4% compared with the industry’s 4.8% growth.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 197.1% in the past year compared with the industry’s 22.7% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 180.6% in the past year compared with the industry’s 22.7% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 14.5% against the industry’s 22.7% growth. In the last reported quarter, it delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.
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QIAGEN Launches QIAcuityDx Digital PCR System: Stock to Gain?
QIAGEN N.V. (QGEN - Free Report) recently launched its QIAcuityDx Digital PCR System, whose instrument and accessories are Food and Drug Administration (“FDA”) 510(k) approved and In Vitro Diagnostic Regulation (“IVDR”) certified for diagnostic use in Europe.
The newly launched QIAcuityDx Digital PCR System is an addition to the company’s digital PCR portfolio.
QGEN’s Likely Stock Trend Following the News
Subsequent to the news, share price of QGEN remained unchanged at $45.47 in after-market trading yesterday. The company is gaining a high level of synergies from its significant investments in the expansion of its key platform, QIAcuity. We expect the latest launch to motivate market sentiment in favor of QGEN in the coming days.
QGEN currently has a market capitalization of $10.15 billion. In the last reported quarter, it delivered an earnings surprise of 5.77%. The company has a trailing four-quarter average earnings surprise of 2.64%.
About QGEN’S QIAcuityDx Digital PCR System
QIAcuityDx streamlines clinical testing by providing highly precise, absolute quantitation of target DNA and RNA, supporting applications with less invasive liquid biopsies.
The QIAcuityDx platform is an In vitro diagnostics (“IVD”) medical device that integrates partitioning, thermocycling and imaging into a streamlined 5-plex workflow within a single instrument. It has the capability to process up to four nanoplates simultaneously. It reduces lab space requirements, servicing needs and operator time.
QIAcuityDx software is designed for diagnostic use, featuring a user-friendly interface and comprehensive audit trail compliant with modern lab requirements. It includes two modes — IVD and Utility. The QIAcuity-DX platform supports continuous sample loading and flexible scheduling, accommodating urgent testing needs without compromising patient results.
QGEN’s Business Advancements
QIAGEN is rapidly expanding the application menu available on QIAcuityDx System. In line with this, the company plans for FDA submission in 2025 for a new BCR::ABL assay for oncohematology. The platform also provides immediate access to QIAGEN’s full portfolio of research-use products and applications via its GeneGlobe platform.
QIAGEN has already signed three partnerships with pharmaceutical companies to develop companion diagnostics on the QIAcuityDx, moving digital PCR into precision medicine. QIAGEN plans to further enhance the future assay portfolio by collaborating with third parties, who will develop their own assays for the platform.
The adoption of QIAcuity digital PCR research instrument is strong. Key customers include pharmaceutical and biotechnology companies, academic and research organizations, and forensic laboratories.
QIGEN’s Recent Development
Last month, QIAGEN and Becton, Dickinson and Company or BD’s joint venture, PreAnalytiX GmbH, launched the PAXgene Urine Liquid Biopsy Set. PAXgene will be used for reliable analysis of cell-free DNA (cfDNA) from urine with most molecular testing technologies, including qPCR, digital PCR and next-generation sequencing. QIAGEN will commercialize the newly launched set with the first verified, standardized and complete preanalytical workflow from urine collection, stabilization and isolation of cfDNA.
Image Source: Zacks Investment Research
Industry Prospect Favors QGEN
Per a Grand View Research report, the global oncology clinical trials market was valued at $12.92 billion in 2022 and is anticipated to witness a compound annual growth rate of 5.2% from 2023 to 2030. The market is primarily driven by factors such as an increase in technological advancements, a rise in cancer incidences, and improvements in personalized medicine and cell and gene therapies.
QGEN Stock’s Price Performance
In the past year, shares of QGEN have risen 10.4% compared with the industry’s 4.8% growth.
QGEN’s Zacks Rank and Key Picks
QGEN currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are TransMedics Group (TMDX - Free Report) , AxoGen (AXGN - Free Report) and OrthoPediatrics (KIDS - Free Report) . While TransMedics sports a Zacks Rank #1 (Strong Buy) at present, AxoGen and OrthoPediatrics carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 197.1% in the past year compared with the industry’s 22.7% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 180.6% in the past year compared with the industry’s 22.7% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 14.5% against the industry’s 22.7% growth. In the last reported quarter, it delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.