Looks like a very nice batch of gene analyzing systems sold by Illumina (NASDAQ:ILMN) - I saw this news yesterday but with earnings coming next week, I did not want to add to the position ahead of earnings due to the kneejerk reactions that happen. But it's lit a nice fire under the stock.
- Shares of genetic analysis company Illumina Inc. rose Thursday after the company said it sold 22 gene analyzing systems to the Broad Institute, boosting that institution's installed base to 47 units. The Broad Institute is a collaboration between Cambridge, Mass., neighbors Massachusetts Institute of Technology and Harvard University. It focuses on genetic research. The Genome Analyzer is one of its main genetic technology products.
"The Broad Institute's decision to significantly scale their installed base of Genome Analyzers is a tremendous sign of their confidence in our ability to continue improving the performance and economics of the system," said Illumina Senior Vice President and Chief Financial Officer Christian Henry, in a statement.
"Illumina has taken a convincing lead in market share that is unlikely to be challenged meaningfully in the coming quarters," Leerink Swann analyst Issac Ro said in a note to clients.
Disclosure: Long Illumina in fund; no personal position