TD Cowen analyst Dan Brennan raised the firm’s price target on PacBio to $19 from $17 and keeps an Outperform rating on the shares. The firm said the Revio pull-thru and a 2023 guidance raise were key positives for 2Q results. The Apton acquisition adds a new future leg of growth though spending/focus here cannot dilute Revio efforts.
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Read More on PACB:
- PacBio enters an agreement to acquire Apton Biosystems for $85M upfront
- PacBio Announces Second Quarter 2023 Financial Results
- PacBio reports Q2 adjusted EPS (26c), consensus (32c)
- PacBio Enters into Agreement to Acquire Apton Biosystems to Accelerate the Development of a Next Generation, High Throughput, Short-read Sequencer
- PacBio assumed with an Overweight at JPMorgan