Investing.com - Barclays initiated coverage on Qiagen NV (NYSE: QGEN ) with an overweight rating and a $55.00 price target on Tuesday.

The research firm cited Qiagen’s significant exposure to diagnostics, which represents 50% of its business, as a key strength in the current market environment. Barclays noted that diagnostic companies face minimal exposure to the hardware challenges affecting the broader industry, including biotech funding constraints, NIH issues, and pharma tariffs.

Qiagen’s position in higher-growth genomics markets within its Life Sciences segment was highlighted as another positive factor. The firm pointed out that volumes in this business continue to benefit from cutting-edge research and increasingly from clinical applications such as liquid biopsy.

On the valuation front, Barclays observed that Qiagen currently trades at approximately 17x FY’26E EBITDA, roughly in line with the company’s historical average and reflecting a 2-turn premium to peers at about 15x.

The research firm expressed confidence in potential further multiple expansion for Qiagen, driven by the company’s superior margin profile compared to the peer average and its exposure to high-growth genomics markets.

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