The price objective set by Cantor Fitzgerald for the stocks of PACB has been further upgraded to $25, according to The Fly- and this has already been sent out to investors. The upgrade was from $16 to $25, where the company has a rating of ‘overweight’ on the stock of the biotechnology company. The brokerage firm’s price target has brought out an indication that there is a potential upside with the close of the stock.
There have been quite a few firms that have brought out reports on the stocks of PACB. Piper Sandler has already changed the rating of the company from ‘overweight’ to ‘neutral’, along with a price objective of $12 in one of their research reports. ValuEngine also upgraded the rating of the company from ‘buy’ to ‘hold’, where BidaskClub shifted the rating from ‘strong buy’ to ‘buy’. Morgan Stanley shifted the objective price of the company from $7 to $12 while giving the company a rating of ‘equal weight’.
What Has been the Consensus of the Analysts Regarding PACB?
Out of all the analysts working on this research firm, one of them has given it a rating of ‘sell’, while three of them have given it a ‘hold’. Four of the analysts have issued the company with a rating of ‘buy’. Currently, the rating for the company is ‘hold’, with a price target of $12.50.
The stocks of PACB opened up on Tuesday, trading at $22.32. The simple moving average over 50-days has been set at $15.15, while the simple moving average over 200-days is $8.25. The market cap of the company is $4.02 billion, with a beta of 1.70, and a PE ratio of -66.79.
PACB had previously announced the results of their quarterly earnings on the 7th of November.