PacBio downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded PacBio (PACB) to Underweight from Equal Weight with a price target of $1.50, down from $2. The shares have a “tough setup” over the near-term, the analyst tells investors in a research note. Barclays sees potential for a demand pause in demand given competitive launches across the sequencing space. As such, PacBio could see an “air pocket on consumables” in the first half of 2026 as customers wind down research in anticipation of SPRQ NX, contends the firm.