In a report released yesterday, Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on Pacific Biosciences, with a price target of $3.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors impacting Pacific Biosciences. Despite a mixed performance in the third quarter of 2025, where revenue fell short of expectations due to lower Revio pricing and delayed Vega shipments, there are positive indicators for future growth. The company reported an increase in Revio pull-through and an improvement in total gross margin, suggesting operational efficiencies.
Moreover, Pacific Biosciences is making strides with its new multi-use SMRT cells, which are expected to lower costs and unlock larger projects for customers, potentially enhancing the company’s market position. Although macroeconomic challenges may pose short-term pressures, the company is anticipated to return to solid growth in 2026, supported by its advancements with clinical customers and population-scale programs. Overall, Mikson remains optimistic about the company’s ability to overcome current headwinds and believes the stock is undervalued, justifying the Buy rating.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $3.00 price target.
PACB’s price has also changed dramatically for the past six months – from $1.110 to $1.915, which is a 72.52% increase.