Benzinga | Aug 14, 2020 11:48AM EDT

Why Qiagen's Stock Is Trading Higher Today

Qiagen NV (NYSE:QGEN) shares are trading higher on Friday after Deutsche Bank upgraded the stock from Hold to Buy and raised its price target on the stock from $32 to $60 per share.

Qiagen offers proprietary sample and assay technology to extract, purify, amplify, and interpret DNA, RNA, and proteins. The company's sales are split almost evenly between applications in life sciences (52% of 2019 sales) and molecular diagnostics (48% of sales).

Qiagen generates nearly 90% of its revenue from consumables with the balance coming from instrumentation and related services. The Americas account for the largest portion of the firm's revenue (47%), followed by EMEA (32%) and Asia-Pacific (21%).

Qiagen shares were trading up 2.77% at $50.02 on Friday at the time of publication. The stock has a 52-week high of $50.97 and a 52-week low of $25.04.