Yahoo Finance Illumina (ILMN) Partners With Henry Ford Health for NGS Test
Illumina, Inc. ILMN recently partnered with the Detroit-based, not-for-profit healthcare organization, Henry Ford Health, to assess the impact of comprehensive genomic testing on cardiovascular disease. A series of implementation and clinical studies will be conducted at The Lisa and Christopher Jeffries Center for Precision Medicine and the Center for Individualized and Genomic Medicine Research at Henry Ford Health.
The latest collaboration upholds the companies’ shared belief of integrating genomics into the standards of care as one of the key health indicators across all clinical indications.
Significance of the Research
The severity of cardiovascular disease imposes a substantial clinical and economic burden on the healthcare ecosystem. A patient's genetic makeup and response to commonly prescribed medications determine the risk of developing heart disease.
The research conducted at Henry Ford Health will explore the use of next-generation sequencing (NGS) tests, including whole-genome sequencing (WGS) in patients with cardiovascular disease, especially those in underserved communities.
Image Source: Zacks Investment Research
About the CardioSeq Study
The first study under this new partnership, CardioSeq, leverages Illumina’s accredited clinical test that employs WGS to create a comprehensive cardiovascular genomic profile. The newly launched study includes 1500 patients receiving care from the Division of Cardiovascular Medicine at Henry Ford.
The CardioSeq study will screen patients to identify the genetic causes of cardiovascular disease and secondary genes findings recommended by the American College of Medical Geneticists and Genomics. Pharmacogenetic results from the test, which are based on FDA and Clinical Pharmacogenetics Implementation Consortium guidelines, provide valuable insights into how an individual will respond to a particular drug based on their DNA.
Inherited disease findings will be shared with participating patients and their physicians. Recommendations will be made once all pharmacogenetic findings are reviewed by pharmacists.
Illumina believes genomic profiling will help clinicians and patients by providing a more complete picture to assess risk management and care planning decisions.
Industry Prospects
Per a Research report, the global cardiovascular genetic testing market was valued at $8.72 billion in 2021 and is expected to witness a CAGR of 11.25% up to 2030.
Recent Developments
Earlier in April, Illumina registered more than 200 orders for its revolutionary NovaSeq X sequencing system in the first quarter of 2023. NovaSeq X's ability to enable and accelerate new projects that require more samples, more multiomic analyses, and depth of sequencing generated the strongest pre-launch demand for the instrument.
In March 2023, the company launched Connected Insights, the new cloud-based software enabling tertiary analysis for clinical next-generation sequencing data. The product is currently undergoing beta testing in the United States.
Price Performance
In the past six months, ILMN shares have increased 12.4% compared with the industry’s rise of 1.7%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the overall healthcare sector are Lantheus LNTH, Avanos Medical AVNS and Insulet PODD. Lantheus sports a Zacks Rank #1 (Strong Buy), while Avanos Medical and Insulet each carry a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lantheus’ stock has risen 45.2% in the past year. Earnings estimates for Lantheus have remained constant at $4.79 per share for 2023 and at $5.32 for 2024 in the past 30 days.
LNTH’s earnings beat estimates in all the last four quarters, delivering an average surprise of 50%. In the last reported quarter, it reported an earnings surprise of 42.71%.
Estimates for Avanos Medical in 2023 have remained constant at $1.68 per share in the past 30 days. Shares of the company have declined 5.8% in the past year compared with the industry’s fall of 15%.
Avanos Medical’s earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, AVNS delivered an earnings surprise of 25%.
Insulet’s stock has increased 18.4% in the past year. The company has an estimated earnings growth rate of 56.59% for the next year.
Insulet’s earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 59.81%. In the last reported quarter, PODD delivered an earnings surprise of 129.17%.
Want 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
Illumina, Inc. (ILMN) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
Lantheus Holdings, Inc. (LNTH) : Free Stock Analysis Report
AVANOS MEDICAL, INC. (AVNS) : Free Stock Analysis Report
