Yahoo Finance Neogen (NEOG) Introduces 2 Assays for Histamine Detection
Neogen Corporation NEOG recently launched two assays for the detection of histamine — Reveal for Histamine and Reveal Q+ for Histamine. The easy-to-use lateral flow tests utilize a simple water extraction method that provides results in minutes.
The latest developments bolster Neogen’s portfolio of food safety testing solutions, thereby helping keep consumers safe and healthy.
Significance of the Assays
Reveal for Histamine is a qualitative lateral flow assay intended for the visual screening of histamine at 50 parts-per-million (ppm) in scombroid species of fish, such as tuna and mahi-mahi. Reveal Q+ for Histamine is a quantitative lateral flow assay designed to be read on Neogen’s Raptor Integrated Analysis Platform. The assay provides quantitative results for histamine in scombroid species of fish and dry animal proteins.
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Contrary to other commercially available histamine detection methods, Reveal and Reveal Q+ assays eliminate the need to dispose of any chemicals, thereby reducing the testing time. These rapid tests are backed by Neogen’s reputation for providing accurate and reliable results. Thus, these make it easy for producers and distributors to test this toxin.
High levels of histamine may develop in fish species as they decompose and the ingestion of histamine can cause scombroid poisoning in humans. Due to the chances of human illness, the FDA has set an action level of 50 ppm for histamine in domestic and imported fish.
The company currently offers a comprehensive range of food safety diagnostic test products for foodborne bacteria, mycotoxins, food allergens, and other concerns. Its full line of mycotoxin test kits detects aflatoxin, deoxynivalenol, fumonisin, ochratoxin, T-2/HT-2, and zearalenone.
Industry Prospects
Per a Research report, the global histamine toxicity market was valued at $329 million in 2022 and is expected to witness a CAGR of 4.2% up to 2033.
Recent Developments
In May 2023, Neogen launched two assays for the detection of natural toxins — Reveal Q+ for DON EndPoint and Reveal Q+ for Aflatoxin EndPoint. Both assays have received the Federal Grain Inspection Service Certificate of Compliance for corn and wheat commodities.
Earlier in March, NEOG announced that the U.S. Environmental Protection Agency approved additional virucide claims to its Neogen Viroxide Super disinfectant. These additional virucidal claims solidify the trustworthiness and reliability of the Neogen Viroxide Super disinfectant within production animal marketplaces.
Price Performance
In the past six months, Neogen has mostly outperformed its industry. Shares of the company have increased 16.5% compared with the industry’s rise of 0.3%.
Zacks Rank and Key Picks
Neogen currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Haemonetics HAE, Lantheus LNTH and Neuronetics STIM. While Haemonetics and Lantheus each sport a Zacks Rank #1 (Strong Buy), Neuronetics carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 34.7% in the past year. The Zacks Consensus Estimate for Haemonetics’ earnings per share (EPS) has increased from $3.29 to $3.55 for 2023 and from $3.84 to $3.96 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, the company registered an earnings surprise of 13.24%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has increased from $4.98 to $5.60 in the past 30 days. Shares of the company have improved 25.7% in the past year against the industry’s 33.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Neuronetics’ loss per share have narrowed from $1.32 to $1.29 for 2023 in the past 30 days. Shares of the company have risen 1.1% in the past year compared to the industry’s 3.2% fall.
STIM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 19.61%. In the last reported quarter, Neuronetics delivered an earnings surprise of 2.56%.
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