Cantor Fitzgerald analyst Ross Osborn downgraded Pacific Biosciences to Neutral from Overweight with an unchanged price target of $12, citing valuation. Pacific Biosciences launched a new long read and short read sequencing system in October and the stock has rallied 33%, but Osborn believes the new offerings are now baked into the company’s valuation, the analyst tells investors in a research note.
Published first on TheFly
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Read More on PACB:
- Pacific Biosciences partners with University of Tokyo
- PacBio Announces Record Orders, Including Orders for 76 Revio Systems Received in the Fourth Quarter of 2022
- Pacific Biosciences sees Q4 revenue $27.3M, consensus $27.88M
- Pacific Biosciences initiated with an Outperform at Scotiabank
- Pac Bio call volume above normal and directionally bullish
