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    FDA-Approved PD-L1 Test for GI Cancers Could Be A Game Changer For Agilent Technologies (A)

    Simply Wall St·07/18/2026 23:16:09
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    • In July 2026, Agilent Technologies received U.S. FDA approval for its PD-L1 IHC 28-8 pharmDx assay as a companion diagnostic to identify patients with several gastrointestinal cancers who may be eligible for Bristol Myers Squibb’s OPDIVO and OPDIVO QVANTIG therapies, for use exclusively on the Agilent Autostainer Link 48 platform.
    • This approval broadens Agilent’s role in oncology diagnostics by linking its assay technology directly to widely used immunotherapy regimens in high-mortality gastric and esophageal cancers.
    • We’ll now examine how this new FDA-approved companion diagnostic partnership with Bristol Myers Squibb could influence Agilent’s longer-term investment narrative.

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    Agilent Technologies Investment Narrative Recap

    To own Agilent, you need to believe in its role as a picks-and-shovels provider to pharma, diagnostics and applied chemistry, with recurring consumables and services supporting growth. The new PD-L1 IHC 28-8 approval modestly reinforces that thesis by deepening its oncology footprint, but it is unlikely to change the near term focus on tariff headwinds and supply chain execution, which remain the key swing factors for margins right now.

    Among recent announcements, the July 2026 launch of Altura SEC and PLRP-S HPLC columns looks especially relevant here, as it strengthens Agilent’s consumables portfolio across complex biotherapeutics workflows. Together with the new PD-L1 companion diagnostic, it underlines how incremental product additions across instruments, reagents and columns can support the company’s push toward higher margin recurring revenue streams and partially offset pressure from tariffs and capital spending cycles.

    Yet while oncology diagnostics and biopharma columns can help, investors should still be aware that rising tariff driven supply chain costs could...

    Read the full narrative on Agilent Technologies (it's free!)

    Agilent Technologies' narrative projects $8.8 billion revenue and $2.1 billion earnings by 2029.

    Uncover how Agilent Technologies' forecasts yield a $161.00 fair value, a 22% upside to its current price.

    Exploring Other Perspectives

    A 1-Year Stock Price Chart
    A 1-Year Stock Price Chart

    Four members of the Simply Wall St Community currently see Agilent’s fair value between US$150.54 and US$175.40, reflecting a tight but varied set of expectations. You should weigh those against the ongoing tariff and supply chain risks that could influence how much of Agilent’s diagnostic and consumables opportunity actually reaches the bottom line.

    Explore 4 other fair value estimates on Agilent Technologies - why the stock might be worth just $150.54!

    Reach Your Own Conclusion

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

    • A great starting point for your Agilent Technologies research is our analysis highlighting 4 key rewards that could impact your investment decision.
    • Our free Agilent Technologies research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Agilent Technologies' overall financial health at a glance.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.