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Piper Sandler Maintains Neutral Rating for Pacific Biosciences: Here's What You Need To Know

Piper Sandler has decided to maintain its Neutral rating of Pacific Biosciences (NASDAQ:PACB) and lower its price target from $13.00 to $6.00.

Shares of Pacific Biosciences are trading down 2.74% over the last 24 hours, at $5.68 per share.

A move to $6.00 would account for a 5.63% increase from the current share price.

About Pacific Biosciences

Pacific Biosciences of California Inc is a biotechnology company focused on the design, development, and commercialization of tools for biological research. The company develops sequencing systems to assist in resolving genetically complex problems. Its sequencing systems provide access to a wide range of applications and are designed for expandable improvements to performance capability. The majority of the company's revenue is derived from North America, followed by Asia and Europe.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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