PacBio moved to Neutral at JPMorgan after guidance cut [Seeking Alpha]
Pacific Biosciences of California, Inc. (PACB)
Last pacific biosciences of california, inc. earnings: 2/6 04:02 pm
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US:NASDAQ Investor Relations:
investor.pacificbiosciences.com
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Source: Seeking Alpha
JPMorgan downgraded shares of PACB to Neutral from Overweight, noting that the company's shares will continue to be pressured in the near-term as investors look for execution and data points demonstrating the market opportunity for its Revio gene sequencing system. PacBio ( PACB ) pre-announced its Q1 results last week, generating revenues of $38.8M, which was roughly flat from $38.9M in the prior-year period and below Wall Street estimate of $50.27M. All regions underperformed, with the firm noting various factors for the miss, including macro pressure, slower Revio uptake from new customers, procurement delays, sample delays impacting sequencing volume at certain large customers and lower-than-expected consumable revenue. The company also lowered its 2024 revenue outlook to $170-200M vs. Street forecast of $239M and prior guide of $230-250M. JPMorgan withdrew its Dec-24 price target on the stock (vs. $13 previously), adding that “we believe the macro backdrop will continue
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PACB
News
- MedGenome announces de novo Genome Assembly and Annotation Grant winners for 2024 [Yahoo! Finance]Yahoo! Finance
- Investors Heavily Search Pacific Biosciences of California, Inc. (PACB): Here is What You Need to Know [Yahoo! Finance]Yahoo! Finance
- NewBiologix Launches Next-Generation Sequencing and Optical Mapping Platform to Drive the Next Wave of Biopharmaceutical Discoveries [Yahoo! Finance]Yahoo! Finance
- Here's Why Pacific Biosciences (PACB) is Poised for a Turnaround After Losing -63.44% in 4 Weeks [Yahoo! Finance]Yahoo! Finance
- Pacific Biosciences (PACB) Upgraded to Buy: Here's What You Should Know [Yahoo! Finance]Yahoo! Finance
PACB
Earnings
- 2/15/24 - Beat
PACB
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- PACB's page on the SEC website