J.P. Morgan Remains a Buy on Pacific Biosciences (PACB)

J.P. Morgan analyst Julia Qin maintained a Buy rating on Pacific Biosciences (PACBResearch Report) yesterday and set a price target of $13.00. The company’s shares closed yesterday at $10.63.

Qin covers the Healthcare sector, focusing on stocks such as Seer, Invitae, and Singular Genomics Systems. According to TipRanks, Qin has an average return of 2.4% and a 50.00% success rate on recommended stocks.

In addition to J.P. Morgan, Pacific Biosciences also received a Buy from Canaccord Genuity’s Kyle Mikson CFA in a report issued on November 16. However, on the same day, Piper Sandler maintained a Hold rating on Pacific Biosciences (NASDAQ: PACB).

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PACB market cap is currently $2.4B and has a P/E ratio of -7.93.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PACB in relation to earlier this year.

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Pacific Biosciences of California, Inc. engages in the development, manufacture and sale of an integrated platform for genetic analysis. Its products and services include PacBio sequel system, consumables, analytical software, and single molecule real-time (SMRT) compatible products. It operates through the following geographical segments: North America, Europe, and Asia Pacific. The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.

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