Shares of Illumina (NASDAQ: ILMN) rose 8% last week and added another 4% on Monday, reaching the stock's highest point since mid-August, on news that the company has developed a speedier gene-sequencing machine.

Illumina stock is still down more than 45% this year and the company has had its share of headaches, but I see it as a great long-term bargain right now.

Shares of Illumina trade for roughly 40 times earnings and have a price-to-sales ratio of 6.6, both of which may seem high, until you consider that the biotech has huge growth potential and has increased revenue by 4,526% over the past 10 years.

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Source Fool.com