This Stock Could Double in Less Than 3 Years

The technology behind next-generation sequencing (NGS) might be complicated, but the potential to make boatloads of money from it is quite simple.

In September, scientists used cutting-edge techniques to insert genes in common pigeons that will allow them to alter the pigeons’ offspring with DNA from the extinct passenger pigeon.

And bringing back a pigeon that went extinct in 1914 is just the start of the breakthroughs in the NGS market.

Eventually, the tech could help cure cancer and eliminate Alzheimer’s.

The NGS market was valued at $4.62 billion in 2015, and it’s expected to skyrocket 362% to $21.4 billion by 2025, according to Grand View Research.

The profit opportunity is going to be huge, but finding the best medical tech stock in this complicated market isn’t easy.

There’s a lot of hype around gene-editing companies, but there is one that’s more deserving of your hard-earned money.

That’s why we brought in an expert.

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Money Morning Defense and Tech Specialist Michael Robinson is a 30-year veteran of tech markets with a Rolodex of Silicon Valley CEOs.

With the 362% projected growth in the NGS market over the next seven years, Robinson says you can ride that soaring market with one tech stock that could double…

The Top Tech Stock in the Growing $21.4 Billion NGS Market

Robinson says there are a lot of ways to play this new medical market that offer a high reward, but they are risky.

Instead, he suggests putting money in Illumina Inc. (NASDAQ: ILMN).

Robinson calls this a “pick and shovel” play.

Instead of investing in gene-editing companies directly, a pick-and-shovel play would be to invest in an equipment supplier. The equipment is critical in allowing scientists to reach massive new breakthroughs.

That’s where Illumina comes in.

It provides products for genomics (structure, function, evolution, and mapping of genomes) and sequencing kits.

And as more medical companies race to be the first to uncover breakthroughs, ILMN equipment sales should skyrocket.

More revenue means more demand for the stock, which can send share prices higher.

Over the next 12 months, financial firm Cowen & Co. expects the ILMN stock price to climb to $400 per share.

From today’s (Nov. 6) price of $322.60, that’s a potential profit of 23.99%.

However, that’s just the start of how much money you could make…

“Over the past three years they [earnings per share] have grown by an average 13%, but they soared by 74% in the most recent quarter. Now we use what I call my Doubling Calculator to divide the compound profit growth rate of 36% into the number 72. We find that any Illumina shares you buy today should double in 2.7 years,” Robinson said [last week].

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Source: Money Morning