QIAGEN Launches New Ultra-Fast Sequencing Kit

QIAGEN has launched QIAseq DIRECT SARS-CoV-2 kit that reduces library preparation times and the use of plasticware by half as well as supports the simultaneous analysis of more than 6,000 samples.

QIAGEN (QGEN) Senior Vice President of the Business Area Life Sciences, Thomas Schweins, said, “QIAseq DIRECT SARS-CoV-2 is a powerful solution that will increase the efficiency and output of NGS at a time when global expectations to perform could not be higher.”

Schweins added, “This kit is an important extension of our QIAseq range, that allows for more accurate detection and quantification of molecular variants, while drastically reducing the time and workflow steps needed for library preparation, increasing lab efficiency and throughput.” (See QIAGEN stock analysis on TipRanks)

QIAGEN has a range of solutions in its SARS-CoV-2 research and testing portfolio. These include sample preparation products as well as T-Cell research solutions based on its QuantiFERON IGRA technology.

The newly launched kit can be used with the QIAGEN Digital Insights CoV-2 Insights Service, a cloud-based solution, to support the detection of variants and reporting.

Recently, Wells Fargo analyst Dan Leonard reiterated a Hold rating on the stock with a $52 price target. Reacting to a report of a potential business combination of QIAGEN and Quidel, Leonard notes that any such deal is unlikely and doesn’t believe that the synergies of a potential deal are “overly compelling.”

Turning to the rest of the Street, the stock has a Hold consensus rating alongside an average analyst price target of $57.12 (14.3% upside potential), based on 3 Buys, 5 Holds and 1 Sell. Shares have gained about 24.9% over the past year.

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