Fintel reports that on August 22, 2023, Cantor Fitzgerald reiterated coverage of Pacific Biosciences of California (NASDAQ:PACB) with a Neutral recommendation.
Analyst Price Forecast Suggests 46.18% Upside
As of August 2, 2023, the average one-year price target for Pacific Biosciences of California is 15.13. The forecasts range from a low of 12.12 to a high of $21.00. The average price target represents an increase of 46.18% from its latest reported closing price of 10.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Pacific Biosciences of California is 180MM, an increase of 23.42%. The projected annual non-GAAP EPS is -1.37.
What is the Fund Sentiment?
There are 509 funds or institutions reporting positions in Pacific Biosciences of California. This is an increase of 38 owner(s) or 8.07% in the last quarter. Average portfolio weight of all funds dedicated to PACB is 0.31%, an increase of 5.90%. Total shares owned by institutions decreased in the last three months by 0.85% to 303,012K shares. 
The put/call ratio of PACB is 0.60, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 26,635K shares representing 10.63% ownership of the company. In it's prior filing, the firm reported owning 27,754K shares, representing a decrease of 4.20%. The firm increased its portfolio allocation in PACB by 6.18% over the last quarter.
Madrone Advisors holds 16,416K shares representing 6.55% ownership of the company. No change in the last quarter.
ARKK - ARK Innovation ETF holds 13,944K shares representing 5.57% ownership of the company. In it's prior filing, the firm reported owning 14,303K shares, representing a decrease of 2.58%. The firm increased its portfolio allocation in PACB by 6.36% over the last quarter.
Nikko Asset Management Americas holds 13,650K shares representing 5.45% ownership of the company. In it's prior filing, the firm reported owning 14,007K shares, representing a decrease of 2.61%. The firm increased its portfolio allocation in PACB by 3.90% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 13,650K shares representing 5.45% ownership of the company. In it's prior filing, the firm reported owning 14,007K shares, representing a decrease of 2.61%. The firm increased its portfolio allocation in PACB by 16.20% over the last quarter.
Pacific Biosciences of California Background Information
(This description is provided by the company.)
Pacific Biosciences of California, Inc. is empowering life scientists with highly accurate long-read sequencing. The company's innovative instruments are based on Single Molecule, Real-Time (SMRT®) Sequencing technology, which delivers a comprehensive view of genomes, transcriptomes, and epigenomes, enabling access to the full spectrum of genetic variation in any organism. Cited in thousands of peer-reviewed publications, PacBio® sequencing systems are in use by scientists around the world to drive discovery in human biomedical research, plant and animal sciences, and microbiology.
Additional reading:
- Indenture, dated February 16, 2021, between Pacific Biosciences of California, Inc., and U.S. Bank National Association, as Trustee
- , 2023, titled “PacBio Announces Second Quarter 2023 Financial Results” (furnished and not filed herewith solely pursuant to Item 2.02).
- Apton Biosystems to Accelerate the Development of a Next Generation, High Throughput, Short-read Sequencer
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