Cantor Fitzgerald analyst Bryan Brokmeier reiterated a Buy rating on Pacific Biosciences (NASDAQ: PACB) today and set a price target of $8. The company’s shares opened today at $4.84, close to its 52-week low of $3.76.
According to TipRanks.com, Brokmeier is a 1-star analyst with an average return of -2.8% and a 43.9% success rate. Brokmeier covers the Healthcare sector, focusing on stocks such as Rosetta Genomics Ltd, Laboratory Corp., and Exact Sciences.
Pacific Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $12.
The company has a one year high of $13.98 and a one year low of $3.76. Currently, Pacific Biosciences has an average volume of 1.68M.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PACB in relation to earlier this year. Earlier this month, Lucy Shapiro, a Director at PACB bought 101,666 shares for a total of $338,796.
Pacific Biosciences of California, Inc. develops, manufactures and markets sequencing systems to help scientists resolve genetically complex problems. The company has developed a technology to study the synthesis and regulation of DNA combining recent advances in nanofabrication, biochemistry, molecular biology, surface chemistry, and optics. Its initial focus is on DNA sequencing market where a third generation sequencing platform using proprietary SMRT technology, the PacBio RS. The PacBio RS a third generation sequencing instrument that provides real-time information at the single molecule level which includes instrument platform that uses its proprietary consumables, including its SMRT Cells and reagent kits, providing a complete solution to the customer. The company was founded by Stephen Turner and Joseph V. Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.
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