Illumina, Inc. (NASDAQ:ILMN) announced the launch of TruSight® Tumor 170, a 170 gene next-generation sequencing solution to support the transformation of the tumor-profiling paradigm from a series of single-gene tests to a multi-analyte approach, providing a more thorough picture of a tumor’s genomic landscape.
TruSight Tumor 170 offers an integrated DNA and RNA enrichment-based workflow, targeting cancer-related genetic aberrations, including small variants, gene amplifications, gene fusions, and splice variants. With optimized bioinformatics tools and automation options, laboratories can implement the assay on an in-house, research use only NextSeq® instrument. Designed to support limited nucleic acid input from formalin-fixed, paraffin-embedded (FFPE) samples, TruSight Tumor 170 facilitates efficient evaluation of biomarkers.
“Having broader gene content allows us to improve cancer research by assessing more genes and to identify structural alterations that are important targets for developing therapies,” said pathologist Anthony Magliocco. “We hope these capabilities will improve clinical cancer research by streamlining the testing of solid tumors. Due to the flexibility of the enrichment methodology upon which TruSight Tumor 170 is based, this technology has the potential to serve as a platform for many applications beyond solid tumor profiling.”
“This new assay is poised to help realize the potential of precision oncology,” said John Leite, PhD, Vice President of Oncology at Illumina. “By integrating DNA and RNA into one protocol, clinical researchers are able to accelerate comprehensive analysis of cancer-related variants and maximize the data obtainable from precious specimens. Looking forward, we aim to deploy the underlying assay method at the heart of TruSight Tumor 170 as a universal standard for optimized tissue assessment across a variety of applications with both fixed and customizable panels.”
“We’re committed to delivering the tools that enable a shared vision of personalized oncology,” said Francis deSouza, President and CEO ofIllumina. “We believe the introduction of TruSight Tumor 170 will enable research insights that will positively impact cancer patients in the future.”
TruSight Tumor 170 offers broader investigational power:
- Enrichment-based assay that evaluates DNA and RNA in one integrated protocol
- 170 unique genes informed by partnering pharmaceutical companies, academic community leaders, and industry guidance
- Integrated workflow requires only 40ng of DNA and RNA from FFPE samples, allowing more comprehensive testing while preserving precious samples
- Underlying assay method to serve as a standard for optimized tissue assessment across a variety of applications (Original Source)
Shares of Illumina closed last Friday at $134.63, up $0.24 or 0.18%. ILMN has a 1-year high of $196.47 and a 1-year low of $127.10. The stock’s 50-day moving average is $168.33 and its 200-day moving average is $154.60.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on November 2, Cantor’s analyst Bryan Brokmeier reiterated a Hold rating on ILMN, with a price target of $155, which implies an upside of 15% from current levels. Separately, on the same day, Canaccord’s Mark Massaro reiterated a Hold rating on the stock and has a price target of $135.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Bryan Brokmeier and Mark Massaro have a yearly average loss of 6.8% and 6.6% respectively. Brokmeier has a success rate of 34% and is ranked #3836 out of 4162 analysts, while Massaro has a success rate of 39% and is ranked #3877.
Overall, 2 research analysts have rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 4 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 $150.00 which is 11% above where the stock closed last Friday.
Illumina, Inc. develops, manufactures and markets integrated systems for the analysis of genetic variation and function. The company provides sequencing and array-based solutions for genetic analysis in addition to selling products, it provide genotyping, NIPT and whole-genome sequencing services. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, and reference laboratories as well as pharmaceutical, biotechnology, agrigenomics, commercial molecular diagnostic, and consumer genomics companies.