Company Update (NASDAQ:ILMN): Illumina Launches the NeoPrep Library Prep System

Illumina, Inc. (NASDAQ:ILMN) announced the launch of the NeoPrep™ Library Prep System, which greatly simplifies library preparation and delivers high-quality sequencing-ready libraries for next-generation sequencing (NGS). The newest addition to the Illumina portfolio of NGS solutions consists of a NeoPrep desktop instrument, disposable library cards, and reagents. Together with Illumina sequencers and the BaseSpace® computing environment, the new system plays an integral role in providing NGS users with the easiest, most efficient and complete workflow.

The NeoPrep System is the first commercially available product that performs library prep, quantification and normalization, in a single, self-contained instrument. Innovative digital microfluidics technology decreases hands-on time from several hours to 30 minutes. By precisely manipulating droplets within the tightly controlled library card environment, the system delivers reliable, high-quality DNA and RNA libraries from starting amounts 4 to 10 times lower than those required for equivalent manual assays. By creating 16 libraries per run, users can prepare up to 160 libraries per week, providing an affordable, walk-away solution that simplifies lab processes, and reduces the need for ancillary equipment and user-supplied reagents and consumables.

“Illumina is enabling the broadest-possible adoption of NGS across research, clinical, and applied markets,” said Kirk Malloy, Senior Vice President and General Manager of Illumina’s Life Science Business. “The NeoPrep System is a key milestone in the evolution of NGS technology. It makes NGS accessible to any lab by radically simplifying the library preparation process, creating a seamless workflow of Illumina solutions for library preparation, sequencing, and data analysis. By continuing to drive adoption of NGS, we aim to help our customers generate new discoveries and applications in oncology, reproductive health, forensics, microbiology, and other key markets.”

The NeoPrep System is designed for use with the Illumina portfolio of library preparation kits, supporting the most commonly used NGS applications on all Illuminasequencing systems. Each kit includes the library card as well as all reagents required to create NeoPrep libraries.

The NeoPrep System and NeoPrep versions of the TruSeq® Nano DNA Kit and TruSeq Stranded mRNA Kit will begin shipping in March 2015. Additional library preparation products will become available later in the year, including NeoPrep versions of the TruSeq DNA PCR-Free Kit and other targeted resequencing kits.

Shares of Illumina closed last Friday at $203.135 . ILMN has a 1-year high of $213.33 and a 1-year low of $127.69. The stock’s 50-day moving average is $194.32 and it’s 200-day moving average is $181.87.

On the ratings front, Illumina  has been the subject of a number of recent research reports. In a report issued on February 2, Cantor Fitzgerald analyst Sung Ji Nam maintained a Hold rating on ILMN, with a price target of $166, which reflects a potential downside of -18.3% from last closing price. Separately, on January 28, Maxim Group’s Bryan Brokmeier reiterated a Buy rating on the stock and has a price target of $255.

In total, one research analyst has assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $203.135 which is 14.1% above where the stock closed last Friday.

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.

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