NEOGEN Corporation
NEOG
, in collaboration with Gencove, announced the launch of InfiniSEEK — an innovative, cost-effective solution for whole genome sequencing and targeted SNP analysis. InfiniSEEK is NEOGEN’s first commercial product developed on the Gencove software and analysis platform.
The recent development will enable NEOGEN to continue offering advanced genomic solutions, which will strengthen the global foothold.
Few Words on Gencove
Gencove combines low-pass whole genome sequencing (reading the DNA at shallower depths) with a proprietary software-as-a-service computation layer to meet the growing demand for genomic information.
More on InfiniSEEK
InfiniSEEK is built on the Gencove software with unique technology, allowing simultaneous low-pass whole genome sequencing and high-coverage genotyping at regions of interest.
With InfiniSEEK, the industry now has a platform to reduce selection bias by sequencing more or all of a population and discover traits impacting desired phenotypes.
Notably, InfiniSEEK has been thoroughly validated. Results showed low-pass genome-wide sequencing to be more than 99% concordant to deep whole-genome sequencing. It can also offer even higher clinical-grade accuracy at specific regions of interest.
Benefits of InfiniSEEK
By Combining NEOGEN’s genomic solutions and services with Gencove’s low-pass sequencing and analytics software, InfiniSEEK can deliver genomic insights to help accelerate cattle breeding programs worldwide.
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Per NEOGEN’s management, with the launch of InfiniSEEK, customers can now have a data-rich, cost-efficient way to get genome-wide sequence data, specific genetic traits, and parentage markers simultaneously, with excellent accuracy to characterize cattle worldwide.
Industry Prospects
Per a report by Markets and Markets
, the global animal genetics market is projected to reach $7.7 billion by 2026 from $5.5 billion in 2021, seeing a CAGR of 7.1%. Growth in the animal genetics market is mainly driven by the rising consumption of animal-derived protein, and increasing global population and rapid urbanization. Additionally, growing focus on identifying superior breeds, increased adoption of genetic services to prevent genetic diseases and business loss, and increased adoption of advanced genetic technologies are driving the market.
Recent Developments
In April 2022, NEOGEN launched the Prozap Protectus Pour-On Insecticide — IGR, the latest addition to its trusted Prozap insect control line. The new insect-control product is a ready-to-use triple-active formula that kills chewing and sucking lice, horn flies, stable flies, and horse and deer flies. It is intended for use on beef cattle and calves.
In December 2021, NEOGEN acquired Genetic Veterinary Sciences, Inc. (“GVS”), a Spokane, WA-based companion animal genetic testing company. Per NEOGEN management, with pet parenting garnering popularity around the world in recent years, especially because of the COVID-19 pandemic, the GVS acquisition is expected to advance opportunities for the company’s global genomics business.
Price Performance
Shares of NEOGEN have lost 42.9% in a year compared with the
industry
‘s fall of 27.8%.
Zacks Rank and Stocks to Consider
NEOGEN currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are
UnitedHealth Group Incorporated
UNH
,
Medpace Holdings, Inc.
MEDP
and
Alkermes plc
ALKS
.
UnitedHealth, with a Zacks Rank #2 (Buy), reported first-quarter 2022 earnings per share (EPS) of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Revenues of $80.1 billion outpaced the consensus mark by 14.2%.
You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%.
Medpace reported first-quarter 2022 adjusted EPS of $1.69, which surpassed the Zacks Consensus Estimate by 34.1%. Revenues of $330.9 million outpaced the Zacks Consensus Estimate by 1.1%. It currently has a Zacks Rank #2.
Medpace has a historical growth rate of 27.3%. MEDP’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%.
Alkermes reported first-quarter 2022 adjusted EPS of 12 cents, which surpassed the Zacks Consensus Estimate of a penny. Revenues of $278.6 million outpaced the Zacks Consensus Estimate by 6.2%. It currently sports a Zacks Rank #1.
Alkermes has an estimated long-term growth rate of 25.1%. ALKS’ earnings surpassed estimates in the trailing four quarters, the average surprise being 350.5%.
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