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PerkinElmer's (PKI) Horizon Discovery Broadens Portfolio

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Zacks Equity Research
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PerkinElmer, Inc.’s PKI company Horizon Discovery recently expanded its gene editing and modulation portfolio to include a new family of CRISPR modulation (CRISPRmod) reagents for CRISPR interference (CRISPRi).

Notably, CRISPRi allows scientists to get a better grasp of the biological pathways, processes and pathologies of disease by repressing genes at the transcriptional level, thereby leading to new therapeutic approaches.

For investors’ notice, ever since the discovery of CRISPR gene editing tools, Horizon has been at the forefront of offering guide and nuclease products to facilitate precision DIY CRISPR knockout and knock-in as well as custom monitoring and cell-line production services.

This development is expected to boost PerkinElmer’s Diagnostics segment.

More on the Development

The new reagents comprise the first-ever commercially available synthetic single guide RNAs (Ribonucleic acid) for CRISPRi as well as a patent-pending dCas9-SALL1-SDS3 repressor available in mRNA and lentiviral formats.

These new technologies will equip researchers with the flexibility to contain genes in almost all cell lines over a span of time and at any scale from single-gene readouts to high-throughput studies.

Interestingly, the novel dCas9-SALL1-SDS3 repressor was developed on the basis of meticulous research and it exhibited more consistent gene modulation over a longer period of time compared to the current-generation CRISPRi products.

PerkinElmer is anticipated to help researchers achieve even more important breakthroughs in the future with the help of these new reagents coupled with its existing CRISPR portfolio.

Recent Developments

In March 2021, the company introduced two Research Use Only (RUO) solutions, namely PKampVariantDetect SARS-CoV-2 RT-PCR Assay and Next Generation Sequencing-based NEXTFLEX Variant-Seq SARS-CoV-2 Kit to detect genomic mutations reported in connection with SARS-CoV-2 variants. Notably, laboratories can utilize these assays through nucleic acid extracted from samples that tested positive earlier.

In the same month, the company announced expansion of Signals informatics, PerkinElmer’s industry-leading documentation, workflow and decision-making platform to leverage its existing capabilities in the biologics drug discovery space. This expansion was done in partnership with Insightful Science, a software company catering to the global life sciences community.

Industry Prospects

Per a Grand View Research report, the global molecular diagnostics market size was valued at $9.2 billion in 2019 and is projected to register a CAGR of 9.0% over the forecast period of 2020-2027.Hence this development is well-timed.

Price Performance

In the past year, the stock has gained 71.3% compared with 66.7% growth of the industry.

Zacks Rank and Key Picks

Currently, PerkinElmer has a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are Align Technology ALGN, Surmodics SRDX and Hologic HOLX. While Align Technology currently sports a Zacks Rank #1 (Strong Buy), the other two presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Align Technology has a projected long-term earnings growth rate of 19%.

Surmodics has a projected long-term earnings growth rate of 10%.

Hologic has an estimated long-term earnings growth rate of 15.4%.

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