QIAGEN's (QGEN) New API Streamlines Access to BKB Data
QIAGEN N.V.’s QGEN bioinformatics business — QIAGEN Digital Insights — recently announced the launch of an application programming interface (API). This will streamline access for customers from pharma, biotech and academia to its QIAGEN Biomedical Knowledge Base (QIAGEN BKB) and enable the easy integration of data into their internal systems.
The company’s latest development comes against the backdrop of significant challenges researchers face in accessing centralized, structured, normalized and high-quality data to drive data science projects.
News in Detail
The QIAGEN BKB API will allow researchers to swiftly use knowledge graphs, AI and machine learning to accelerate research into disease mechanisms and subtypes, targets and biomarkers, mechanisms of action and other areas. It will also reduce infrastructure costs for hosting and maintaining QIAGEN’s huge archive of manually curated data.
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The QIAGEN BKB API provides direct access to the same high-quality, human-reviewed data that fuels the widely used QIAGEN Ingenuity Pathway Analysis application. Over the past 20 years, the application has been used by more than 40,000 scientists in pharmaceuticals, biotech and academia and cited in more than 57,000 scientific papers.
QIAGEN BKB collects, structures and integrates information about biomedical relationships locked in thousands of publications and dozens of databases. The API will allow researchers to either purchase the entire knowledge or only more targeted data, making it more convenient for smaller organizations that require smaller data volumes.
In addition, the API creates new opportunities to extract profound insights into biological questions through its flexibility and granularity.
Industry Prospects
Per a research report, the global API management market size was $4.5 billion in 2022 and is expected to register a CAGR of 25.1% by 2027.
Key Highlights of the Bioinformatics Business
The QIAGEN Digital Insight business offers the full bioinformatics portfolio of the company’s Genomics/NGS product group. With a track record of more than 20 years, the business brings forth bioinformatics products built from best-in-class bioinformatics companies with a deep customer base and market knowledge.
In the last reported second quarter of 2023, the business had a tremendous performance, delivering growth above 20% at the constant exchange rate. Among its product offerings, the QIAGEN Clinical Insight Interpret solution has been recently chosen by the Danish National Genome Center to provide the interpretation of oncology results generated from whole-genome sequencing (WGS) data. The initiative is part of a larger personalized medicine strategy that aims to provide WGS as the standard of care for relevant patient groups throughout Denmark.
Price Performance
In the past six months, shares of the company have declined 8.5% compared with the industry’s fall of 5.9%.
Zacks Rank and Key Picks
QIAGEN currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Quanterix QTRX and SiBone SIBN. Each of these companies presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 17% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have surged 144.4% in the past year against the industry’s decline of 6.1%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have risen 24.5% in the past year against the industry’s decline of 3%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 28%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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