What does the future of QIAGEN look like?

The genetic diagnostics and biotech company was founded in 1984 as a spin-off from Düsseldorf University when Riesner was a professor at the university. Originally, the company was to be called Diagen, an abbreviation for diagnostics and genetics.

However, as another company was already called DIAGEN, they decided to use the name QIAGEN. For legal reasons, the company’s headquarters are in Venlo, the Netherlands, with relatively few employees. The largest operational facility is located in Hilden with 1,300 employees. Riesner has been on the company’s supervisory board for a long time but left the position a few years ago.

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The shares of the genetic diagnostics and biotech company Qiagen have worked their way back up significantly in recent weeks. Between July 23 and October 8, the shares price fell by around 35%.

Now, however, a clear recovery has taken place, the shares improved by more than 60% and are trading at a new multi-year high of $41.85 (€38). In mid-November, the company had reported on a number of non-binding takeover bidders and declared that it was ready to talk.

The explosive rise in the shares’ price has visibly brightened the chart. The price is now above the 50-day line again (EMA50). This results in a buy-signal.

Looking at the year (to date), the stock is now up almost 28%. In a historical comparison, this already means a strong overperformance, as the average annual return (taking into account all yield pairs since 1998) amounts to 6.74%.

From a statistical point of view, the shares’ price could, therefore, fall sharply again and the return at the end of the year could be more than 21% points lower.

What do the analysts say about the company?

According to the analysts, the fair value of the shares averages $35.52 (€32.25) and is thus around 15% below the current price level. The Qiagen shares are currently being monitored by 11 analysts and there are 4 buy, 6 hold and one sell ratings. This leads to a neutral signal despite the lower average price target.

The bottom line is that the Qiagen stock receives 1.5 out of 3 points and is therefore neutral overall. Investors can let their profits run, but it is advisable to wait for a bullish assessment on the part of the analysts before buying or re-entering.

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(Featured image by Ousa Chea via Unsplash)

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First published in FINANZTRENDS, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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