Pacific Biosciences (PACB – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on the stock and has a $3.00 price target.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight Pacific Biosciences’ strategic positioning and growth potential. The company reported first-quarter 2025 revenues that exceeded expectations, driven by strong sales of consumables and increased placements of Vega systems. This performance indicates a solid demand for their products in both commercial and clinical settings.
Moreover, Pacific Biosciences has decided to pause the development of its high-throughput short-read sequencer to focus on the promising long-read sequencing market, which is expected to drive future growth. Despite macroeconomic challenges, including U.S./China tariffs and potential NIH budget cuts, the company has adjusted its revenue guidance and implemented cost-cutting measures to maintain financial stability. These strategic decisions, combined with the potential for significant upside in the stock price, underpin Mikson’s optimistic outlook and Buy rating.
In another report released on May 9, TD Cowen also maintained a Buy rating on the stock with a $3.00 price target.