On March 31, 2023,
TD Cowen
upgraded
their outlook
for Pacific Biosciences of California (NASDAQ:PACB) from Market Perform
to Outperform
.
Analyst Price Forecast Suggests 6.80% Upside
As of March 30, 2023,
the average one-year price target for Pacific Biosciences of California is $12.37.
The forecasts range from a low of $10.10 to a high of $14.70.
The average price target represents an increase of 6.80% from its latest reported closing price of $11.58.
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 40.57%.
The projected annual non-GAAP EPS
is -$1.37.
What are Large Shareholders Doing?
ARK Investment Management
holds 25,692K shares
representing 10.36% ownership of the company.
In it’s prior filing, the firm reported owning 28,692K shares, representing
a decrease
of 11.68%.
The firm
increased
its portfolio allocation in PACB by 56.87% over the last quarter.
Madrone Advisors
holds 16,416K shares
representing 6.62% ownership of the company.
Jackson Square Partners
holds 15,005K shares
representing 6.05% ownership of the company.
In it’s prior filing, the firm reported owning 20,258K shares, representing
a decrease
of 35.01%.
The firm
increased
its portfolio allocation in PACB by 6.12% over the last quarter.
ARKK – ARK Innovation ETF
holds 14,303K shares
representing 5.77% ownership of the company.
In it’s prior filing, the firm reported owning 14,456K shares, representing
a decrease
of 1.07%.
The firm
increased
its portfolio allocation in PACB by 30.17% over the last quarter.
Sumitomo Mitsui Trust Holdings
holds 14,166K shares
representing 5.71% ownership of the company.
In it’s prior filing, the firm reported owning 14,392K shares, representing
a decrease
of 1.59%.
The firm
increased
its portfolio allocation in PACB by 32.41% over the last quarter.
What is the Fund Sentiment?
There are 451 funds or institutions reporting positions in Pacific Biosciences of California.
This is an increase
of
10
owner(s) or 2.27% in the last quarter.
Average portfolio weight of all funds dedicated to PACB is 0.27%,
an increase
of 87.53%.
Total shares owned by institutions increased
in the last three months by 3.90% to 280,798K shares.
The put/call ratio of PACB is 0.33, indicating a
bullish
outlook.
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
