This IBD 50 Stock Is Benefiting From A Broad Push To 'Read' DNA

Illumina stock popped Friday after England and Nevada announced broad genome-sequencing plans — a surefire boon for the biggest company that "reads" DNA, an analyst said.

The post This IBD 50 Stock Is Benefiting From A Broad Push To 'Read' DNA appeared first on Investor's Business Daily.

[Collection]

IBD 50s Illumina (ILMN) stock popped Friday after England and Nevada announced broad genome-sequencing plans — which one analyst called a surefire boost for the biggest company that "reads" DNA.

X

In midday action on the stock market today, Illumina stock jumped 4.5%, near 321.20, rising for the second day running after a broad downturn for medical-research stocks. Illumina stock lost nearly 17% over seven days. Medical-research stocks broadly plunged 10.5%.

Canaccord analyst Mark Massaro kept his buy rating and 375 price target on Illumina stock. Illumina stock hit a record above 372 last month before pulling back. As the biggest genome-sequencing company, Illumina benefits from a growing push to better understand DNA.

"We would buy Illumina right here," Massaro said in a note to clients. "As Illumina, the dominant leader in sequencing, is powering huge population sequencing projects around the world at a scale never seen before."

England's Genome-Sequencing Project

Last week, health officials in England announced a plan to sequence 5 million genomes over the next five years. The genome is the entire map of a human's DNA. Better understanding of the genome can lead to quicker diagnoses of disease and more targeted treatment.

England's new target is a "50-fold increase compared to the 100,000 Genomes Project," he said. More than 87,000 genomes have been sequenced, up from 36,000 in October 2017.

Starting in 2019, the National Health Service of England will offer whole genome analysis for all seriously ill children who might have a genetic disorder, Massaro said. An estimated 10,000 diseases are due to defects in a single gene.

Genetic Testing In The U.S.

Further, the Healthy Nevada Project announced a 10-fold expansion of its genetic-testing goal. It will now offer genetic testing to 250,000 additional people in Nevada and other communities across the U.S.

The project launched in September 2016 to examine personal health care, environmental data and socioeconomic issues to help address complex health problems, Massaro said. The pilot program enrolled 10,000 participants in less than two days.

More broadly, the All of Us program in the U.S. will receive $376 million in funds from the National Institutes of Health, up $86 million year over year. The project aims to provide genome-sequencing to more than 1 million Americans.

YOU MIGHT ALSO LIKE:

How Do You Spot A Major Market Top? Easy: Look For Heavy Distribution

How To Trade Stocks: Why Most Penny Stocks Fail To Make Investors Rich

Looking For The Next Nvidia? Start With This Simple Routine

The post This IBD 50 Stock Is Benefiting From A Broad Push To 'Read' DNA appeared first on Investor's Business Daily.

http://feedproxy.google.com/~r/BusinessRss/~3/li_uJzBI7bc/

No comments:

Post a Comment