Daniel Brennan, an analyst from TD Cowen, maintained the Buy rating on Pacific Biosciences. The associated price target remains the same with $3.00.
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Daniel Brennan has given his Buy rating due to a combination of factors that indicate a promising future for Pacific Biosciences. Despite a slight miss in sales largely attributed to weaker instrument performance, the company demonstrated strong growth in consumables, which exceeded expectations. This growth in consumables, along with improved gross margins and a more moderate cash burn, highlights the company’s resilience and potential for future success.
Furthermore, the upcoming launch of the new SPRQ-Nx chemistry is seen as a significant catalyst for the company, with strong early demand suggesting a positive impact on future revenues. Although the instrument segment faced challenges, management’s discussions indicate that some delayed sales are expected to close in the next quarter. Overall, the combination of strong consumable performance, promising new product launches, and improved financial metrics supports a favorable outlook for Pacific Biosciences heading into 2026.
According to TipRanks, Brennan is a 5-star analyst with an average return of 21.9% and a 57.81% success rate. Brennan covers the Healthcare sector, focusing on stocks such as Exact Sciences, Natera, and Guardant Health.
In another report released on October 27, Canaccord Genuity also maintained a Buy rating on the stock with a $1.35 price target.