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Agilent (A) Boosts Genomic Profiling With New Collaboration

Agilent Technologies A has entered into a research agreement with the National Cancer Centre Singapore, to bring advancement in Singapore’s genomic profiling on Asian-prevalent cancers.

The research focuses on improving tumor genome characterization and utilizing this data in patient care to enhance clinical trials, oncology diagnostics and treatment decisions.

Notably, this collaboration involves the provision of the Agilent Magnis NGS Preparation System, which is used to study details specific to Asian cancer cohorts where tissue samples are limited.

This, in turn, will simplify gene assays and complex genetic aberrations for reproducible results.

We believe that the latest agreement will accelerate the development of next-generation diagnostic tools to improve patient care.

Moreover, the deal will also strengthen Agilent’s footprint in Asian markets.

Agilent Technologies, Inc. Price and Consensus

Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. Price and Consensus

Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote

Growth Prospects

The latest partnership is in sync with the company’s efforts to strengthen its footprint in the global genomics market.

Per a Towards Healthcare report, the global genomics market is expected to reach $127.16 billion by 2032, witnessing a CAGR of 16.1% between 2023 and 2032.

A Grand View Research report predicts the global genomics market to witness a CAGR of 16.5% during the period of 2023-2030.

We believe the company’s solid prospects in the promising genomics market are expected to instill investor optimism in the stock.

Agilent has lost 25% in the year-to-date period against the industry’s growth of 1.7%.

Notably, the company has been suffering from macroeconomic uncertainties, weak momentum in China, rising inflationary pressure and geo-political tensions.

DGG Segment in Focus

The latest move bodes well for the company’s growing efforts toward bolstering its Diagnostics and Genomics Group (DGG) segment.

Recently, Agilent released the enhanced xCELLigence RTCA Software Pro Version 2.8, a software package for real-time cell analysis in GMP-regulated facilities, ensuring data authenticity and compliance.

Further, it launched the Agilent SureSelect Cancer CGP Assay, a pan-cancer assay designed for somatic variant profiling of solid tumor types, utilizing an NGS panel of 679 genes.

We note that the abovementioned endeavors will likely act as a catalyst for its customer base expansion.

Notably, Agilent signed a Memorandum of Understanding with Advanced Cell Therapy and Research Institute, Singapore to install and operate its xCELLigence real-time cell analyzer, aiming to advance cell and gene therapy over the next three years

The company also partnered with Theragen Bio to improve precision oncology in South Korea through advanced bioinformatic solutions, leveraging their combined expertise in cancer genomic profiling design and software knowledge.

All these endeavors are likely to aid the performance of the DGG segment in the days ahead.

For third-quarter fiscal 2023, revenues in the underlined segment increased 3% from the prior-year fiscal quarter’s figure on a reported, as well as a core basis to $349 million.

Our model estimate for DGG revenues for fiscal 2023 is pegged at $1.41 billion, indicating growth of 1.5% from the 2022 level. The same for fiscal 2024 and fiscal 2025 stands at $1.48 billion and $1.58 billion, reflecting year-over-year growth of 5% and 7%, respectively.

Zacks Rank & Stocks to Consider

Currently, Agilent carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Arista Networks ANET and Applied Materials AMAT. While Asure Software sports a Zacks Rank #1 (Strong Buy), Arista Networks and Applied Materials carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Asure Software shares have lost 5.2% in the year-to-date period. ASUR’s long-term earnings growth rate is currently projected at 27%.

Arista Networks shares have gained 52.3% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%

Applied Materials shares have gained 41.4% in the year-to-date period. AMAT’s long-term earnings growth rate is currently projected at 6.10%.

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Agilent Technologies, Inc. (A) : Free Stock Analysis Report

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