Analyst Kyle Mikson CFA of Canaccord Genuity maintained a Buy rating on Pacific Biosciences (PACB – Research Report), with a price target of $3.00.
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Kyle Mikson CFA’s rating is based on a combination of factors, including Pacific Biosciences’ potential for future growth despite current challenges. The company has introduced new products, such as the Vega and SPRQ, which are expected to drive growth and improve execution, particularly in the European market.
Although there are concerns about reduced academic spending and NIH funding cuts, Pacific Biosciences has incorporated these potential headwinds into its 2025 guidance. The company remains optimistic about its ability to capture opportunities in the U.S. and plans to ramp up production of the Vega system. This strategic focus, along with anticipated improvements in gross margins and modest revenue growth, supports the Buy rating.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $3.50 price target.