10 Best Genomics Stocks To Buy Right Now

4. Fulgent Genetics, Inc. (NASDAQ:FLGT)

Upside potential as of November 14: 54.72%

Fulgent Genetics, Inc. (NASDAQ:FLGT) is a technology company that specializes in genetic testing and provides clinicians with clinically meaningful diagnostic information. The firm is involved in both therapeutic development and laboratory services. Technical laboratory services and expert interpretation of test findings by certified medical professionals are two aspects of the laboratory services industry that contribute significantly to income. Developing medication candidates to treat a variety of tumors is the main goal of its therapeutic development segment. The two geographic categories are foreign and the United States, which produces the vast majority of the revenue.

The company’s major focus has once again shifted to its core genetic testing business, which does not include COVID-19 testing. Fulgent Genetics, Inc. (NASDAQ:FLGT) offers cancer diagnostics, newborn genetic testing, and genetic disease carrier screening. In April 2022, the company purchased Inform Diagnostics, a leading independent pathology lab.

Fulgent Genetics, Inc. (NASDAQ:FLGT) is evolving from a diagnostic company to a comprehensive healthcare company that specializes in oncology. Despite its historical reliance on COVID-19 test revenue, Fulgent has a stable financial sheet and no debt, and its core business has risen dramatically.

Fulgent Genetics, Inc. (NASDAQ:FLGT) reported $71.7 million in total sales in its third-quarter 2024 financial release, with core revenue increasing 9% year over year. The company earned $9.4 million in non-GAAP profits and $0.4 million in adjusted EBITDA income despite a $14.6 million GAAP loss. FLGT’s cash position is strong, with $815.4 million in cash, cash equivalents, and investments.

The company is moving forward with preclinical research for FID-022 and its clinical trials, including the Phase 2 trial of FID-007 for head and neck cancer. Fulgent Genetics, Inc. (NASDAQ:FLGT) is confident in its full-year core sales projection of $280 million and higher earnings per share.