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QIAGEN (QGEN) Launches QIAseq FastSelect Technology Kits

Zacks Equity Research

QIAGEN N.V. QGEN recently launched a suite of QIAseq FastSelect technologies that will ensure swifter and simplified library preparation for next-generation sequencing (NGS) in the field of RNA research.

The launch of these technologies will likely widen the Life Sciences product line.

Details of QIAseq FastSelect

The company launched the QIAseq FastSelect -rRNA and -Globin HMR Kits as well as the5S/16S/24S Kit. These solutions are key additions to the company’s industry-leading NGS portfolio that will enable scientists to eradicate unwanted RNA types from samples, gain time and expand their research insights cost effectively.

These novel QIAseq FastSelect technologies remove unwanted RNA with a single 10-second pipetting step and 14 minutes of incubation. These innovative solutions are expected to cater to rising need for reliable, proficient preparation of RNA libraries that will offer better insights in life science research.

Market Prospects

Per MarketsandMarkets, the NGS market is projected to reach $16.35 billion by 2024 from $4.83 billion in 2017 at  a CAGR of 19.2%. Hence, the launch of these new technologies is well-timed.

Recent Developments

Lately, QIAGEN has been making investments to strengthen its NGS portfolio.

In October 2019, QIAGEN announced that it collaborated with Illumina to expand accessibility and use of NGS-based in-vitro diagnostic (IVD) kits that included companion diagnostics for better patient management.Through the partnership, the company aims to expand global presence in the NGS-based IVD market.

In September, the company launched its newly-enhanced GeneGlobe Design & Analysis Hub to provide top-notch experiment planning, execution and follow-up to life science researchers. It is a secure cloud-based platform, which combines gene target exploration, custom assay configuration and data analysis.

Price Performance

In the past year, the stock has lost 22.5% compared with the broader industry’s decline of 21.7%

Zacks Rank and Key Picks

QIAGEN currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader medical space are Syneos Health SYNH, Medtronic MDT and Varian VAR. While Varian sports a Zacks Rank #1(Strong Buy), each of the other two carry a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

Syneos’ long-term earnings growth rate is expected to be 10.5%.

Medtronic’s long-term earnings growth rate is projected at 7.32%.

Varian’s long-term earnings growth rate is expected to be 8%.

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