Market News

Qiagen Mulls Stake Sale in Bioinformatics Unit

Sample technology and solutions provider Qiagen (NYSE:QGEN) is mulling offloading a minority stake in its bioinformatics outfit, according to Bloomberg. The company has roped in advisors to zero in on a suitor and a final verdict is yet to be reached.

Earlier this month, QGEN acquired next-generation sequencing (NGS) solutions provider Verogen for $150 million. The two companies had been commercialization partners since June 2021. Importantly, the move bolstered QGEN’s presence in Human ID/ forensics.

Recently, QGEN also launched the EZ2 connect MDxplatform targeted at the automated processing of samples. Separately, the company is also slated to announce its fourth quarter numbers on February 7 and analysts are estimating an EPS of $0.47 for the period. In the year-ago quarter, QGEN had posted an EPS of $0.74 versus the Street’s expectations of $0.61.

Overall, Wall Street has a consensus price target of $52.77 on QGEN, implying a 7.04% potential upside in the stock. That’s after a 2.4% slide in the company’s share price over the past five trading sessions.

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