Illumina, Inc. ILMN recently unveiled new PrimateAI-3D — an artificial intelligence (AI) algorithm which identifies disease-causing genetic mutations in patients. PrimateAI-3D will be made broadly available to the genomics community integrated across Illumina Connected Software.
The National Institutes of Health estimate that the annual production of genomic data is reaching 40 billion gigabytes. To make discoveries that will expand knowledge of human health and promote precision medicine, it is essential to be able to share, analyse and interpret genetic data.
The latest development will fortify Illumina’s goals to strengthen its foothold in the multi-billion gene sequencing market globally.
More on PrimateAI-3D
Millions of genetic variations exist in each individual, which contribute to individual variances in health and illness risk. However, the majority of these variations are unknown in function. PrimateAI-3D solves a crucial issue that prevents the successful use of personalized genomic medicine by highlighting disease-causing variations with unmatched accuracy.
PrimateAI-3D uses deep neural network designs like ChatGPT and AlphaFold to attain its cutting-edge performance. It is trained on genomic sequences rather than human language.
The outcome is a deep neural network that can identify disease-causing variants with higher accuracy in all six clinical cohorts examined and generate personalized predictions of genetic disease risk that have been verified in a cohort of nearly half a million individuals.
PrimateAI-3D – Unlocking New Potential
PrimateAI-3D's integration of cutting-edge AI technology with the most sophisticated DNA sequencing capabilities is fascinating. The vital work being done to improve patient care might be tremendously accelerated if physicians and researchers were assisted in handling the enormous genetic data that is being generated from the company’s platforms.
A vital step towards the equitable application of genetic-based precision medicine for diverse, non-European populations, PrimateAI-3D also significantly increased the accuracy of genetic risk prediction, enabling the first demonstration of polygenic risk scores that were largely unaffected by ancestry bias.
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By unravelling the causes of complex genetic disorders like diabetes, heart disease and autoimmune diseases, the application of the most recent advancements in AI to genomics provides noteworthy prospects for Illumina in genetic risk prediction and medication target identification.
Per a Research report, the global genomics market size was valued at $28.1 billion in 2022 and is expected to witness a CAGR of 16.5% up to 2030.
Given the market potential, Illumina latest development is well-timed.
In May 2023, Illumina collaborated with African Centre of Excellence for Genomics of Infectious Diseases (ACEGID) to develop a training academy. The collaboration is intended to increase Africa’s genomics capacity. The collaboration is built on the organizations’ shared goals to expand sequencing capabilities and capacity for all people in Africa. It will impact every area of precision medicine, from drug development to cancer screening, therapy selection and monitoring.
In April 2023, Illumina 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.
In the past six months, shares of the company have declined 14.5% compared with the industry’s fall of 5.4%.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Addus Homecare Corporation ADUS, Merit Medical Systems, Inc. MMSI and Hologic, Inc. HOLX.
The Zacks Consensus Estimate for Addus Homecare’s 2023 earnings indicates a 10.9% year-over-year growth. The Zacks Consensus Estimate for ADUS’s 2023 earnings has moved 0.5% north in the past 30 days.
Addus Homecare has a long-term estimated growth rate of 11.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Merit Medical reported a first-quarter 2023 adjusted EPS of 64 cents, beating the Zacks Consensus Estimate by 16.4%. Revenues of $297.6 million surpassed the Zacks Consensus Estimate by 5.9%. It currently carries a Zacks Rank #2.
Merit Medical has a long-term estimated growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%.
Hologic has gained 5% against the industry’s 2.2% decline in the past year.
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