Latest news for Qiagen (NYSE:QGEN) Stock

Qiagen

Qiagen offers proprietary sample and assay technology to extract, purify, amplify, and interpret DNA, RNA, and proteins. The company's sales are split almost evenly between applications in life sciences and molecular diagnostics. Qiagen generates nearly 90% of its revenue from consumables with the balance coming from instrumentation and related services. The Americas account for the largest portion of the firm's revenue (52% of 2023 sales), followed by EMEA (32%), and the Asia-Pacific (16%).

Qiagen NV

Qiagen N.V.

Biotech

Earnings

Earnings Beats

Large Cap

News

Offerings

Small Cap

Markets

Analyst Ratings

Trading Ideas

General

AXGN

QGEN

SIBN

QIAGEN N.V. (NYSE: QGEN) announced the expansion of its strategic partnership with Bio-Manguinhos/Fiocruz, a leading vaccines and diagnostics supplier to the Brazilian Ministry of Health.

Can QGEN Stock Gain From the Expanded Bio-Manguinhos/Fiocruz Alliance?

Hims & Hers Health, Inc. Class A Common Stock

HIMS

MEDP

QIAGEN N.V. (NYSE: QGEN) recently lauded the new guidelines in the United States that recommend screening at-risk children of all ages for latent tuberculosis (TB) infection with modern blood-based tests such as QuantiFERON-TB Gold Plus (QFT-Plus).

QIAGEN Backs New AAP Guidelines Supporting QFT-Plus Test

BristolMeyersSquibb.Courtesyof.02-LVL-Exterior-Sign-101520-media

Health Care

FDA Approves Bristol Myers Squibb&#39;s Combination Therapy For Colorectal Cancer Patients With Certain Type Of Gene Mutation

QIAGEN Expands QIAcuity Digital PCR Offering With Over 100 New Assays Via GeneGlobe Platform, Supporting Cancer Research, Genetic Disorders, Infectious Disease Surveillance, And Environmental Monitoring

QIAGEN N.V.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qgen#NYSE">QGEN</a>) announced the expansion of its strategic partnership with Bio-Manguinhos/Fiocruz, a leading vaccines and diagnostics supplier to the Brazilian Ministry of Health. Initiated in 2009, the expanded collaboration allows Bio-Manguinhos to launch an advanced PCR (Polymerase Chain Reaction)-based molecular screening platform to detect malaria alongside HIV, hepatitis B and C virus, a capability previously unavailable in Brazil&#39;s blood donation program. The recent development will also support epidemiological surveillance of Brazil&#39;s ongoing dengue epidemic by composing dengue molecular kits based on unique collaborative chemistry.
Following the news, shares of QGEN declined 0.6% to $45.57 at yesterday&#39;s close. However, the company is accelerating the introduction of cutting-edge products and capabilities to the market through tailored OEM (Original Equipment Manufacturer) offerings and extensive support for companies in the life sciences research, biotechnology and diagnostics sectors. Hence, we expect the market sentiment to remain positive around this news.
<h2>More on QIAGEN&#39;s Expanded Collaboration</h2>
Brazil&#39;s national blood screening program was launched in 2010, the largest blood donation safety initiative in its history. The advanced Brazilian Nucleic Acid Test (NAT Plus) platform, which utilizes QIAGEN&#39;s PCR reagents, was recently rolled out as part of the program. The latest advancement improves transfusional safety by detecting malaria and closing the &quot;diagnostic window&quot; between the time of infection and laboratory diagnosis. Since 2009, QIAGEN and Bio-Manguinhos have been partnering to equip the national blood screening program with advanced molecular testing solutions.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/77/77671.jpg?v=403415906" />
Image Source: Zacks Investment Research
Presently, the NAT Plus platform is operational in 30 laboratories and is critical to safeguarding blood supplies in regions where these diseases are not endemic. It supports health surveillance within the blood transfusion system, engaging over 300 trained professionals across 14 chemotherapy centers and processing 3.5 million samples annually. QIAGEN will supply critical molecular biology technologies, custom solutions and comprehensive training to facilitate Brazil&#39;s public health initiative. Under the terms of this agreement, the company&#39;s solutions will be included in the screening kits and private labeled under the Bio-Manguinhos&#39; brand.
The collaboration also emphasizes the pivotal role of QIAGEN&#39;s Strategic Partnerships and OEM Division, supporting more than 400 partners globally.
<h2>Industry Prospects Favoring QGEN</h2>
A report from the SkyQuest Technology Group valued the global PCR molecular diagnostics market at $17.8 billion in 2021, forecasted to witness a compound annual growth rate of 12.8% through 2030. The market is a fast-growing sector, driven by the need for accurate and timely diagnostic testing. The rising incidences of infectious diseases, genetic disorders and cancer create a substantial market opportunity for PCR molecular diagnostics. Furthermore, the growing awareness and adoption of precision medicine approaches further contribute to the market&#39;s potential for targeted therapies and personalized treatment regimens.
<h2>QIAGEN&#39;s Recent Developments</h2>
Last week, QIAGEN teamed up with Eli Lilly and Company to support the development of a QIAstat-Dx in-vitro diagnostic to detect APOE (apolipoprotein E) genotypes in the diagnosis of Alzheimer&#39;s disease. The panel will be integrated with QIAGEN&#39;s multiplex testing platform QIAstat-Dx, marking the first publicly disclosed collaboration for a clinical application of the system in neurodegenerative diseases and adding to two more collaborations for diagnostics development programs with other companies.
<h2>QGEN&#39;s Price Performance</h2>
In the past year, QGEN shares have gained 6% against the industry&#39;s 2.2% fall.
<h2>QGEN&#39;s Zacks Rank and Key Picks</h2>
QIAGEN currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Boston Scientific (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>), AxoGen (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axgn#NASDAQ">AXGN</a>) and SiBone (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sibn#NASDAQ">SIBN</a>), each carrying a Zacks Rank #2 (Buy) at present.
Boston Scientific&#39;s shares have gained 58.4% in the past year. Estimates for the company&#39;s earnings per share have remained constant at $2.40 in 2024 and $2.71 in 2025 in the past 30 days. BSX&#39;s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.2%. In the last reported quarter, it posted an earnings surprise of 6.9%.
Estimates for AxoGen&#39;s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 145% in the past year compared with the industry&#39;s growth of 15.5%. AXGN&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for SiBone&#39;s 2024 loss per share have remained constant at 89 cents in the past 30 days. Shares of the company have dropped 30.4% in the past year against the industry&#39;s 15.5% growth. SIBN&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.4%. In the last reported quarter, it delivered an earnings surprise of 15.4%.
<a href="https://www.zacks.com/stock/news/2335917/can-qgen-stock-gain-from-the-expanded-bio-manguinhos-fiocruz-alliance?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2335917">To read this article on Zacks.com click here.</a>

The partnership, initiated in 2009, supported Bio-Manguinhos/Fiocruz with reagents and instruments for testing samples for HIV and hepatitis C virus.&nbsp;
With the expansion of this collaboration, Bio-Manguinhos is now able to launch an advanced PCR-based molecular screening platform to detect malaria alongside HIV, hepatitis B and C virus (HCV and HBV), a capability previously unavailable in Brazil&#39;s blood donation program. It also supports epidemiological surveillance of Brazil&#39;s ongoing dengue epidemic by composing Bio-Manguinhos/Fiocruz dengue&nbsp;molecular kits based on unique chemistry developed by QIAGEN and Bio-Manguinhos/Fiocruz. QIAGEN will supply critical molecular biology technologies, custom solutions, and comprehensive training to facilitate Brazil&#39;s public health initiative.

QIAGEN Expands Strategic Partnership With Bio-Manguinhos/Fiocruz

This collaboration represents a significant milestone as the QIAstat-Dx panel would be the first commercially available IVD for APOE genotyping.

QIAGEN Enters Collaboration With Eli Lilly To Support Development Of QIAstat-Dx In-vitro Diagnostic To Detect APOE Genotypes Which Can Play Role In Diagnosis Of Alzheimer's Disease; No Terms Disclosed

QIAGEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>, Frankfurt Prime Standard: QIA)))) today announced the expansion of its Master Collaboration Agreement with AstraZeneca to develop and commercialize companion diagnostics (CDx) for AstraZeneca's future therapies being developed to address chronic diseases.
Under the agreement, QIAGEN will develop and validate a genotyping assay using QIAGEN's syndromic testing platform QIAstat-Dx. The test will enable specialty care providers to potentially perform genotyping whilst patients are undergoing routine clinical examination, thus enabling fast decision making for potential suitability for AstraZeneca's genomically targeted medicines.

QIAGEN Expands Master Collaboration Agreement With AstraZeneca's Future Therapies To Develop And Validate A Genotyping Assay Using Co's Syndromic Testing Platform QIAstat-Dx

Baird analyst Catherine Schulte maintains Qiagen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) with a Outperform and raises the price target from $49 to $52.

Price Target

Baird Maintains Outperform on Qiagen, Raises Price Target to $52

QIAGEN has updated its FY 2024 outlook based on the solid core business performance in the first half of the year, which was about $15 million CER above guidance, as well as the decision to phase out the NeuMoDx clinical PCR system. As a result, total net sales are expected to be at least $1.985 billion CER and includes a $30 million CER adjustment in expected NeuMoDx sales for 2024.
The outlook for adjusted diluted EPS has been increased to at least $2.16 CER, while the adjusted operating income margin target is for at least 28.5% compared to 26.9% in 2023.

Guidance

Qiagen Sees FY24 EPS $2.16 Vs $2.12 Est.; Revenue $1.985B Vs $2B Est.

Qiagen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) reported quarterly earnings of $0.55 per share which beat the analyst consensus estimate of $0.51 by 7.84 percent. This is a 7.84 percent increase over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $496.00 million which beat the analyst consensus estimate of $494.49 million by 0.31 percent. This is a 0.20 percent increase over sales of $495.00 million the same period last year.

Qiagen Q2 Adj $0.55 Beats $0.51 Estimate, Sales $496.00M Beat $494.49M Estimate

QIAGEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>, Frankfurt Prime Standard: QIA)))) today announced a partnership with the Snow Molecular Anthropology Lab at the University of Montana in the fields of human identification and forensics.
The partnership aims to provide forensic services for missing and murdered Indigenous people (MMIP) and unidentified human remains (UHRs) using DNA technologies such as next-generation sequencing (NGS) and forensic investigative genetic genealogy (FIGG).
Within this long-term partnership, QIAGEN supports the Snow Molecular Anthropology Lab with a MiSeq FGx sequencing system, training, ForenSeq Kintelligence kits and the ForenSeq Kintelligence HT System.

QIAGEN Announces Partnership With The Snow Molecular Anthropology Lab At The University Of Montana In The Fields Of Human Identification And Forensics To Enhance The Identification Of Human Remains

QIAGEN N.V.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qgen#NYSE">QGEN</a>) recently lauded the new guidelines in the United States that recommend screening at-risk children of all ages for latent tuberculosis (TB) infection with modern blood-based tests such as QuantiFERON-TB Gold Plus (QFT-Plus). The latest guidelines from the American Academy of Pediatrics highlight testing for TB with modern interferon-gamma release assays (IGRAs).
With this development, the company aims for its market-leading QFT-Plus to be a gold standard for blood-based tuberculosis detection for patients of all ages.
<h3>More on the New Guidelines</h3>
The new TB screening guidelines build upon AAP&#39;s previous IGRA recommendations and now cover children of all ages, including infants and children aged two and below. The contagious bacterial infection spread primarily through coughing by patients with the active pulmonary form of the disease. As per the CDC (Centers for Disease Control and Prevention) data, TB cases have been rising post-COVID-19 as public health authorities and primary care providers catch up to the &quot;surveillance gap&quot; caused by the pandemic.
An estimated 13 million people in the United States are likely to have latent TB infections, and children are at increased risk for progression from infection to contagious active TB disease. They are also frequently exposed to settings with a higher risk for TB transmission, such as schools and childcare centers. The AAP&#39;s recommendations follow recently updated guidelines from the American College Health Association stating that IGRAs are preferred over the 120-year-old tuberculin skin test&nbsp;for most situations relevant to college health.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ee/69828.jpg?v=1631716656" /> 
Image Source: Zacks Investment Research
The updated childhood TB screening guidelines come as U.S. authorities are expanding the role of latent TB screening in national tuberculosis control efforts. QIAGEN recently partnered with the International Panel Physicians Association to support and educate panel physicians worldwide on new US CDC tuberculosis screening guidelines that require the use of IGRA tests to ensure a safe immigration process, supporting the global fight against TB.
<h3>Significance of QFT-Plus</h3>
Recognized as the world&#39;s leading IGRA blood test, QFT-Plus has been established as a superior alternative to the dated TST. The latter is effective in identifying TB infection in people who have received BCG vaccination, which is common for patients from high-TB-burden countries and those unlikely to return for TST interpretation.
The test has helped patients and providers globally by reducing the number of visits to a single blood draw with a faster turnaround time. Nearly 70-80 million TB skin tests are performed globally each year, including 16-18 million in the United States, with healthcare providers increasingly adopting modern IGRA tests. The expanded AAP recommendations will improve TB infection detection in young children so that they can benefit from preventive treatment, underscoring the importance of the QFT-Plus test.
<h3>Industry Prospects</h3>
Per a Research report, the global TB Diagnostics market was valued at $2.28 billion in 2022 and is likely to witness a 5.2% CAGR through 2022.
TB has emerged as one of the biggest concerns among the government and healthcare agencies, with significant investments being made to develop effective diagnostic technologies to improve patient outcomes and accuracy.
<h3>Notable Developments</h3>
This month, QIAGEN launched 35 new wet-lab tested digital PCR Microbial DNA Detection Assays for its digital PCR platform QIAcuity, significantly broadening its offerings in the field of microbial research. The new assays target a wide range of pathogens responsible for tropical diseases, sexually transmitted infections and urinary tract infections, further solidifying QIAGEN&#39;s position as a leader in microbial detection and analysis.
<h3>Price Performance</h3>
In the past year, QGEN shares have declined 10.5% compared with the industry&#39;s 7.8% fall.
<h3>Zacks Rank and Key Picks</h3>
QIAGEN currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hims &amp; Hers Health (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>), ResMed (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rmd#NYSE">RMD</a>) and Medpace (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/medp#NASDAQ">MEDP</a>). While Hims &amp; Hers Health sports a Zacks Rank #1 (Strong Buy), ResMed and Medpace carry a Zacks Rank #2 (Buy) each at present.
Hims &amp; Hers Heath shares have surged 136.4% in the past year. Estimates for the company&#39;s earnings have increased from 18 cents to 19 cents in 2024 and from 33 cents to 35 cents in 2025 in the past 30 days.
HIMS&#39; earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for ResMed&#39;s fiscal 2024 earnings per share have remained constant at $7.70 in the past 30 days. Shares of the company have plunged 10.8% in the past year compared with the industry&#39;s decline of 2%.
RMD&#39;s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.8%. In the last reported quarter, it delivered an earnings surprise of 10.9%.
Estimates for Medpace&#39;s 2024 earnings per share have remained constant at $11.29 in the past 30 days. Shares of the company have surged 85.2% in the past year compared with the industry&#39;s 5.1% growth.
MEDP&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
<a href="https://www.zacks.com/stock/news/2294797/qiagen-qgen-backs-new-aap-guidelines-supporting-qft-plus-test?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2294797">To read this article on Zacks.com click here.</a>

Wolfe Research analyst Doug Schenkel upgrades Qiagen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) from Peer Perform to Outperform and announces $50 price target.

Upgrades

Wolfe Research Upgrades Qiagen to Outperform, Announces $50 Price Target

Friday, the FDA granted accelerated approval to Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Krazati (adagrasib) in combination with cetuximab as a targeted treatment option for adult patients with&nbsp;KRASG12C-mutated locally advanced or metastatic colorectal cancer (CRC), who have received prior treatment with fluoropyrimidine-, oxaliplatin-, and irinotecan-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39443468/bristol-myers-squibb-announces-u-s-fda-accelerated-approval-of-krazati-adagrasib-in-combination-wi" rel="noreferrer noopener">based chemotherapy</a>.
This indication is approved under accelerated approval based on objective response rate (ORR) and duration of response (DOR) results.
Bristol Myers Squibb added adagrasib via its $5 billion <a target="_blank" href="https://www.benzinga.com/general/biotech/23/10/35141493/bristol-myers-squibb-strengthens-oncology-portfolio-with-mirati-therapeutics-5b-deal" rel="noreferrer noopener">Mirati Therapeutics Inc. deal</a>.
The approval is based on results from cohorts of the Phase 1/2 KRYSTAL-1 open-label study, which evaluated&nbsp;Krazati&nbsp;(600 mg tablets administered orally twice daily) in combination with cetuximab in 94 patients with heavily pretreated CRC harboring a&nbsp;KRASG12C&nbsp;mutation.
The study met its primary endpoint, with a confirmed ORR of 34% for&nbsp;Krazati&nbsp;with cetuximab, all of which were partial responses.
The median DOR, one of the secondary endpoints, was 5.8 months.
Current late-line standard of care options results in limited response rates (ORR 1-6%) after progression on chemotherapy ± VEGF/VEGFR inhibitors.
The company partnered with QIAGEN NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) to develop a tissue-based companion diagnostic (CDx) for&nbsp;Krazati&nbsp;that is now available.
The company added that Krazati&nbsp;is associated with the following Warnings &amp; Precautions: Gastrointestinal adverse reactions including diarrhea, nausea, and vomiting, QTc interval prolongation, hepatotoxicity, and interstitial lung disease (ILD)/pneumonitis.
In 2022,&nbsp;Krazati&nbsp;was granted accelerated approval for adult patients with&nbsp;KRASG12C-mutated locally advanced or metastatic non-small cell lung cancer, who have received at least one prior systemic therapy.
Reuters, citing a Morning Star analyst, notes that &#8220;The approval helps justify Bristol&#8217;s decision to buy Mirati.&#8221; The analyst estimates just over a billion dollars in annual sales for Krazati.
Price Action: BMY shares are up 0.38% at $42.09 during the premarket session at last check Monday.
Photo via Shutterstock

FDA Approves Bristol Myers Squibb's Combination Therapy For Colorectal Cancer Patients With Certain Type Of Gene Mutation

CORRECTION : JP Morgan analyst Casey Woodring maintains Qiagen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) with a Overweight and raises the price target from $52 to $54 -Analyst Name Updated (Article Originally Published on 18th June) .

CORRECTION : JP Morgan Maintains Overweight on Qiagen, Raises Price Target to $54 -Analyst Name Updated (Article Originally Published on 18th June)

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Thursday.
Shares of Vanda Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) fell sharply in today's pre-market trading after the company rejected unsolicited takeover<a href="https://www.benzinga.com/quote/VNDA/news"> bids, citing undervaluation</a>.
Vanda Pharmaceuticals shares dipped 6% to $5.96 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares dipped 7.7% to $28.89 in pre-market trading. Trump Media &amp; Technology Group shares dipped around 10% on Tuesday after the U.S. SEC declared effectiveness of the registration statement on Form S-1 related to the resale by certain securityholders of certain shares and warrants.</li>
<li>Super Hi International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDL#NASDAQ">HDL</a>) shares fell 4.6% to $16.49 in pre-market trading. On Tuesday, Super Hi International posted a first-quarter loss of 1 cent per share on sales of $187.60 million.</li>
<li>Ocugen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCGN#NASDAQ">OCGN</a>) fell 4.4% to $1.32 in pre-market trading after gaining 3% on Tuesday.</li>
<li>Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) fell 4.3% to $41.87 in pre-market trading after reporting quarterly results. On Monday, Qiagen announced at its Capital Markets Day a comprehensive strategy aimed at delivering solid and profitable growth through 2028. The company targets a 7% compound annual sales growth at constant exchange rates (CER) by 2028.</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) declined 4.2% to $41.29 in pre-market trading. On Tuesday, Goldman Sachs analyst Alexander Duval upgraded STMicroelectronics from Sell to Neutral and raised the price target from $35.5 to $45.8.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) shares slipped 3.2% to $35.87 in pre-market trading. SolarEdge Technologies announced the German launch of its high-power SolarEdge TerraMax&#x2122; Inverter combined with H1300 Power Optimizers.</li>
<li>Arcutis Biotherapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>) shares fell 3.1% to $7.90 in pre-market trading.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/06/39405641/hewlett-packard-enterprise-accenture-and-3-stocks-to-watch-heading-into-thursday">Hewlett Packard Enterprise, Accenture And 3 Stocks To Watch Heading Into Thursday</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Pre-Market Outlook

Movers

ARQT

OCGN

SEDG

VNDA

Vanda Pharmaceuticals And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

JP Morgan analyst Tycho Peterson maintains Qiagen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) with a Overweight and raises the price target from $52 to $54.

JP Morgan Maintains Overweight on Qiagen, Raises Price Target to $54

On Monday, Qiagen NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>) announced at its Capital Markets Day a comprehensive strategy aimed at delivering solid and <a href="https://www.benzinga.com/pressreleases/24/06/g39353594/qiagen-announces-2028-strategy-for-solid-profitable-growth" target="_blank" rel="noreferrer noopener">profitable growth through 2028</a>.
The company targets a 7% compound annual sales growth at constant exchange rates (CER) by 2028.
At the event, the German molecular diagnostics firm announced its plans to return at least $1 billion to shareholders from 2024 to 2028, barring value-creating M&amp;A opportunities while maintaining high levels of organic business investments.
Key strategic pillars for growth include:
<ul>
<li>QIAcuity Digital PCR: Plans include tripling the sales team to drive adoption, launching over 100 new assays, and seeking U.S. regulatory clearance for clinical use in 2024. A companion diagnostic agreement with an undisclosed pharma partner was also signed.</li>
<li>QIAstat-Dx: A new panel for syndromic diagnosis of meningitis will be submitted for U.S. regulatory approval in 2024, along with submissions for blood culture, cUTIs, and pneumonia panels by 2028. Mini panels for respiratory or gastrointestinal conditions are also slated for U.S. approval in 2024.</li>
<li>QIAGEN Digital Insights: Nine new product launches are planned by 2028, and the commercial team will be expanded by 40% to enhance global market presence. Investments will focus on combining AI and human-curated knowledge bases, expanding AI-enabled applications from five to 14 by 2028.</li>
<li>Sample Technologies: New instrument launches, including QIAsymphony Connect in 2025 and QIAsprint Connect in 2026, will bolster QIAGEN&#8217;s leadership in lab workflows. New kits for high-growth applications such as liquid biopsy and pathogen detection are also planned.</li>
<li>QuantiFERON: QIAGEN will boost the commercialization of its QuantiFERON-TB Gold Plus test. A partnership with DiaSorin for a Lyme Disease test is also underway, and a U.S. regulatory submission is pending.</li>
</ul>
&#8220;Given our healthy balance sheet and cash flow generation, we are announcing a commitment for significant returns to shareholders while maintaining a high level of investments into our business and seeking value-creating M&amp;A opportunities that strengthen our portfolio and create greater value,&#8221; the company added
QIAGEN aims to achieve a 31% CER-adjusted operating income margin by 2028 through portfolio streamlining, organizational simplification, and digitization.
These efforts include discontinuing the NeuMoDx system and upgrading the SAP enterprise resource system.
QIAGEN returned $300 million to shareholders via a synthetic share repurchase in January 2024 and plans a new $300 million program pending shareholder approval at the Annual General Meeting.
Price Action: QGEN shares are up 2.79% at $43.52 at last check Monday.
Now Read: <a href="https://www.benzinga.com/general/gaming/24/06/39362295/gamestop-shareholders-meeting-highlights-actions-speak-louder-than-words-says-ceo-ryan-cohen">GameStop Shareholders Meeting Highlights: &#8216;Actions Speak Louder Than Words,&#8217; Says CEO Ryan Cohen</a>
Image created using artificial intelligence via Midjourney.

Qiagen Unveils Plan For $1B Shareholder Returns, Major Product Launches

Qiagen CEO Says Other Smaller Low-margin Products Are Under Review With An Update Likely This Year

QIAGEN&#39;s leadership team will present the new 2028 targets, highlighting vision and strategy to sharpen its focus on growth pillars in the portfolio combined with commitments to solid profitable growth and disciplined capital allocation. This includes plans to return at least&nbsp;$1 billion&nbsp;to shareholders from 2024-2028, absent value-creating M&amp;A opportunities, along with a high level of organic business investments.
QIAGEN has set a goal for at least&nbsp;$2 billion&nbsp;of combined annual sales in 2028 from its pillars amid plans for new product launches and important investments.

QIAGEN Plans To Achieve At Least 31% CER Adjusted Operating Income Margin In 2028; Plans To Return At Least $1B To Shareholders From 2024-2028

The company expects to deliver solid profitable growth through 2028 &ndash; led by about&nbsp;7%&nbsp;compound annual sales growth (CAGR) at constant exchange rates (CER) during the four-year period and achieving at least a&nbsp;31%&nbsp;CER adjusted operating income margin in 2028.

QIAGEN To Announce At Its Capital Markets Day A Commitment To Deliver Solid Profitable Growth Through 2028

QIAGEN Launches 35 New Digital PCR Microbial DNA Detection Assays For QIAcuity Platform, Targeting Pathogens For Tropical Diseases, STIs, And UTIs, Enhancing Microbial Research Offerings

In a report released today, Michael Ryskin from Bank of America Securities maintained a Buy rating on Qiagen (QGEN – Research Report). The company'...

Bank of America Securities Remains a Buy on Qiagen (QGEN)

Qiagen N.V. (QGEN) Q2 2024 Earnings Call Transcript

In a report released today, Dan Leonard from UBS maintained a Hold rating on Qiagen (QGEN – Research Report). The company's shares closed yesterday...

Qiagen (QGEN) Gets a Hold from UBS

Qiagen (QGEN) has released an update. Qiagen N.V. reported a steady second quarter in 2024 with net sales of $496 million, a 1% increase at constan...

Qiagen Exceeds Q2 Outlook, Raises Full-Year Forecast

Qiagen (QGEN) has released an update. Qiagen's financial health shows a decrease in total assets from $6.115 billion at the end of 2023 to $5.584 b...

Qiagen Reports Decrease in Total Assets Mid-2024

Hologic Has A Lot Of Fine Qualities, But A Discount Valuation Isn't Among Them

Qiagen (QGEN) has released an update. Qiagen N.V. has announced a private placement of senior, unsecured convertible bonds totaling $450 million, a...

Qiagen Launches $450 Million Convertible Bond Offering

Qiagen (QGEN) has released an update. Qiagen N.V. has set the terms for new senior unsecured convertible bonds due in 2031, with an aggregate princ...

Qiagen Announces Terms for $500M Convertible Bonds

QIAGEN, Lilly to develop Alzheimer's risk detection test

Stock Splits Continue Their 2024 Comeback

AVGO

BIIB

BIRD

BMXMF

BMXXY

BZFD

ESAIY

ESALF

HOLX

NVDA

NYCB

RENT

SITC

SMMNY

Press Releases

QIAGEN announces 2028 strategy for solid profitable growth

QIAGEN welcomes new U.S. guidelines for use of QuantiFERON-TB Gold Plus in detecting tuberculosis infections in children

QIAGEN N.V. to release results for Q2 2024 and hold webcast

QIAGEN to enhance the identification of human remains of Indigenous people and African Americans

QIAGEN delivers solid performance and exceeds outlook for Q2 2024

Myriad Genetics Reports Strong Second Quarter 2024 Financial Results, including 15% Revenue Growth Year-Over-Year; Raises 2024 Financial Guidance and Long-Term Revenue Growth Target to 12%

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Qiagen

News

Latest news for Qiagen (NYSE:QGEN) Stock