Illumina, Inc. (NASDAQ:ILMN) announced it has launched TruSight® Tumor 15, a next-generation sequencing (NGS) panel designed to identify sequence variants in 15 genes commonly associated with marketed therapeutics. TruSight Tumor 15 is optimized for low input DNA from tissue preserved in formalin and paraffin.
“In 2014, Illumina catalyzed the Actionable Genome Consortium (AGC), bringing together thought leaders to define the standards and content for NGS panels intended for use in oncology applications,” said Francis deSouza, President of Illumina. “The TruSight Tumor panel represents the first product, intended for research use only, based on the initial standards defined by the AGC and pharma partners, enabling researchers to advance the application of NGS in this important field.”
The new sequencing panel is optimized for damaged and degraded formalin-fixed, paraffin embedded (FFPE) tumor samples, enabling low frequency somatic variant detection from limited nucleic acid inputs. When paired with the Illumina MiSeq® system, the panel delivers high-quality sequencing with key content and features needed for tumor analysis in translational research.
Illumina is committed to collaborating with pharma partners, the Actionable Genome Consortium, regulatory agencies and key opinion leaders to establish best-practices and consensus standards in NGS testing.
“Tumor biopsies are collecting ever smaller amounts of cancer tissue and the fixation and preservation of the material results in degraded DNA. The challenge for scientists has been to get sufficient intact DNA to efficiently identify the key genetic drivers,” said John Leite, Ph.D., Vice President of Oncology at Illumina. “This new panel is designed to reduce the resource burden on small and medium-sized labs by offering a simple, accurate and fast solution that addresses tissue considerations on the front end and provides streamlined analytics on the back end.”
Dr. Jamie Platt, Vice President of Genomic Solutions at Molecular Pathology Laboratory Network, Inc., evaluated the product in beta testing and said the panel’s simplicity and ease of use makes it well-suited for translational labs, “The value and appeal of next-generation sequencing is the potential to consolidate traditionally iterative tumor analyses. Our evaluation of the new TruSight Tumor 15, with its streamlined library prep and sequencing workflow, gives us confidence that this application is ideal for deployment. Even our most challenging samples produced results, including those with low nucleic acid inputs, giving us assurance we can analyze our most precious specimens.” (Original Source)
Shares of Illumina closed yesterday at $167.51. ILMN has a 1-year high of $242.37 and a 1-year low of $145.12. The stock’s 50-day moving average is $199.31 and its 200-day moving average is $203.51.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on September 16, BTIG analyst Dane Leone reiterated a Buy rating on ILMN, with a price target of $240, which implies an upside of 43.3% from current levels. Separately, on August 26, Cantor Fitzgerald’s Sung Ji Nam initiated coverage with a Buy rating on the stock and has a price target of $265.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Dane Leone and Sung Ji Nam have a total average return of -4.6% and 1.4% respectively. Leone has a success rate of 22.4% and is ranked #3268 out of 3752 analysts, while Nam has a success rate of 56.3% and is ranked #1675.
The street is mostly Bullish on ILMN stock. Out of 8 analysts who cover the stock, 7 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $300.00, which represents a potential upside of 79.1% from where the stock is currently trading.
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.