QIAGEN Stock Likely to Gain on Collaboration for APOE Genotyping

QIAGEN N.V. QGEN recently entered into a collaboration to support the development of a QIAstat-Dx in-vitro diagnostic (IVD) panel with Eli Lilly and Company. The QIAstat-Dx panel will be used to detect apolipoprotein E (APOE) genotypes. The QIAstat-Dx panel will be the first commercially available IVD for APOE genotyping.The recent collaboration is poised to enhance the company’s Molecular Diagnostics business.Shares of QGEN were up 0.4% in pre-market trading today following the news. With the company gaining a high level of synergies due to its continued spree of companion diagnostics collaborations, we expect market sentiment to remain positive around this development.More on QIAGEN’s Collaboration With LillyThe new QIAstat-Dx IVD panel, being developed through the collaboration with Eli Lilly, will enable QIAGEN to enhance treatment for Alzheimer’s patients by providing valuable insight into their diagnostic journey. The QIAstat-Dx IVD panel will detect all APOE genotypes (APOE2, APOE3, APOE4). People carrying the APOE4 genotype have a higher risk of developing Alzheimer's and are likely to do so earlier in life compared with others. Those who carry two copies of this genotype are quite likely to develop clinical symptoms of the disease.The IVD panel will be integrated with QIAGEN's multiplex testing platform QIAstat-Dx. Hence, the latest collaboration will utilize the QIAstat-Dx system for neurodegenerative diseases.The QIAstat-Dx system is designed for laboratory use and employs cost-efficient, single-use cartridges with built-in sample processing. With more than 4,000 instruments placed worldwide, the system has a strong footprint in infectious disease testing. It is now being expanded into other disease and application areas.QIAGEN’s Collaboration HistoryWith more than 30 master collaboration agreements, QIAGEN tries to boost the development and commercialization of diagnostic tests. The company offers a wide range of technologies, including next-generation sequencing (NGS), polymerase chain reaction (PCR) and digital PCR. In sample types, it offers liquid biopsy to tissue. Additionally, QIAGEN has 14 FDA-approved PCR-based companion diagnostics for disease areas, including cancer and Parkinson’s.Industry Prospects Favoring QIAGENPer Verified Market Reports, the APOE Genotype Test Kit Market size was valued at $1.20 billion in 2023 and is projected to reach $2.70 billion by 2030, witnessing a compound annual growth rate of 12.28% during the period. Image Source: Zacks Investment ResearchKey factors supporting market growth include increasing awareness of genetic testing and personalized medicine. The rising prevalence of cardiovascular diseases and neurodegenerative disorders, such as Alzheimer's, has heightened the demand for ApoE testing. Additionally, technological advancements in genetic testing and the growing trend of preventive healthcare are also contributing to market growth.Other Recent Developments by QIAGENLast month, the company expanded its Master Collaboration Agreement with AstraZeneca to develop and commercialize companion diagnostics for the latter’s future therapies targeting chronic diseases. The collaboration will see QIAGEN developing and validating a genotyping assay using its QIAstat-Dx syndromic testing platform.In June 2024, QIAGEN launched the QIAstat-Dx Gastrointestinal Panel 2 in the United States, following its approval by the FDA for use in clinical settings.Price Performance of QIAGEN StockIn the past year, shares of QGEN have risen 0.6% against the industry’s 1.8% decline. QGEN’s Zacks Rank and Key PicksQGEN currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are Intuitive Surgical ISRG, TransMedics Group TMDX and Boston Scientific BSX. While Intuitive Surgical and TransMedics sport a Zacks Rank #1 (Strong Buy), Boston Scientific currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Intuitive Surgical’s shares have surged 56.5% in the past year. Estimates for the company’s earnings have remained constant at $6.67 per share for 2024 in the past 30 days.ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 48.1% to $1.20 in the past 30 days. Shares of the company have gained 132.3% in the past year compared with the industry’s 11.6% 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 Boston Scientific’s 2024 EPS have increased 1.7% to $2.40 in the past 30 days. In the past year, shares of BSX have risen 52.1% compared with the industry’s 16.5% growth.In the last reported quarter, BSX delivered an earnings surprise of 6.90%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Boston Scientific Corporation (BSX): Free Stock Analysis Report Intuitive Surgical, Inc. (ISRG): Free Stock Analysis Report QIAGEN N.V. (QGEN): Free Stock Analysis Report TransMedics Group, Inc. (TMDX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks