Annoroad and Illumina, Inc. (NASDAQ:ILMN) announced they have entered into an agreement to jointly develop advanced clinical applications for reproductive health based on next-generation sequencing (NGS) technology. The collaboration signals the increasing importance of genomic applications to improve healthcare in China.
In recent years, NGS technology has evolved rapidly and is regarded as an essential factor for enabling precision medicine. The collaboration between Annoroad and Illumina will focus on providing the most advanced and integrated sequencing solutions to the clinical market. In particular, the two companies will work together to develop a user-friendly, prenatal DNA diagnostic system for the Chinese market.
The collaboration will bring together technology from Illumina sequencers with Annoroad’s advanced clinical application development capabilities. As part of the agreement, Annoroad will provide its nucleic acid extraction, library preparation, and data analysis software, whileIllumina will provide NGS instrument components and related reagents.
“We have been working to promote the clinical application of genomic technology in China. Non-invasive prenatal testing is used widely in the reproductive health arena, and we hope to promote it as a standard practice in hospitals. As one of the first national clinical pilot sites for NGS appointed by the National Health and Family Planning Commission (formerly the Ministry of Health), Annoroad is now very pleased to partner with Illumina, the global leader in sequencing and array technologies. Cooperation between our two companies will provide additional high-quality diagnostic solutions in the field of reproductive health,” said Junbin Liang, Annoroad Founder and Chief Executive Officer.
“Illumina is very excited to collaborate with Annoroad to increase access to reproductive health solutions in China,” said Tristan Orpin, Senior Vice President and General Manager of Illumina’s Reproductive and Genetic Health business. “We are committed to partnering with Chinese companies who share our vision of improving human health by unlocking the power of the genome.”(Original Source)
Shares of Illumina closed yesterday at $215.59 . ILMN has a 1-year high of $215.74 and a 1-year low of $145.12. The stock’s 50-day moving average is $198.58 and its 200-day moving average is $193.06.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on May 26, BTIG analyst Dane Leone reiterated a Buy rating on ILMN, with a price target of $240, which represents a potential upside of 11.3% from where the stock is currently trading. Separately, on April 22, Mizuho’s Peter Lawson reiterated a Buy rating on the stock and has a price target of $230.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Dane Leone and Peter Lawson have a total average return of 10.1% and 15.8% respectively. Leone has a success rate of 73.0% and is ranked #792 out of 3619 analysts, while Lawson has a success rate of 66.0% and is ranked #378.
Illumina Inc providessequencing-and array-based solutions for genetic analysis. Itsproducts enabled researchers to explore DNA, helping them create the first map of gene variations associated with health, disease, and drug response.