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PACB

Pacific Biosciences

$5.25

0.07 (1.35%)

07:04
09/28/17
09/28
07:04
09/28/17
07:04

Pacific Biosciences downgraded to Neutral from Buy at CL King

CL King analyst David Westenberg downgraded Pacific Biosciences to Neutral due to fair valuation and raised his fair value estimate to $6.80 from $5.60.

PACB Pacific Biosciences
$5.25

0.07 (1.35%)

07/20/17
PIPR
07/20/17
NO CHANGE
Target $4.8
PIPR
Neutral
Pacific Biosciences checks imply potential Q2 downside, says Piper Jaffray
Piper Jaffray analyst William Quirk says his channel checks found 13 Sequel systems in the quarter, down sequentially from 21 found in Q1 and 13 in Q4. Pacific Biosciences typically places two times the channel check, which would imply 26 systems in the quarter, Quirk tells investors in a research note. He lowered his 33 estimate to 30 and sees risk to Q2 numbers. The analyst keeps a Neutral rating on Pacific Biosciences and dropped his price target for the shares to $4.80 from $5.10.
12/15/16
CANT
12/15/16
NO CHANGE
Target $8
CANT
Overweight
Pacific Biosciences a 'viable takeout target,' says Cantor
Cantor analyst Bryan Brokmeier says Pacific Biosciences' (PACB) shares are oversold after the company announced that Roche (RHHBY) has terminated their IVD-distribution agreement, whereby Roche had exclusive distribution rights of the Sequel into the clinical market. While the analyst acknowledges Roche's termination of the agreement is a clear long-term strategic negative, he says it is not nearly as much as the stock selloff is implying and notes that Pacific Biosciences is now positioned to sell into the clinical sequencing market directly or through other partners. Moreover, Brokmeier believes Pacific Biosciences is now "effectively a viable takeout target" for other companies, with Agilent (A), Bio-Techne (TECH), Illumina (ILMN), PerkinElmer (PKI), Thermo Fisher (TMO), and Roche among potential acquirers. He reiterated an Overweight rating on Pacific Biosciences' stock, but lowered his price target on the shares to $8 from $15.
12/15/16
PIPR
12/15/16
NO CHANGE
Target $6
PIPR
Neutral
Pacific Biosciences price target lowered to $6 from $10 at Piper Jaffray
Piper Jaffray analyst William Quirk lowered his price target for Pacific Biosciences (PACB) to $6 from $10 after Roche (RHHBY) terminated its Sequel system contract with the company. Pacific Biosciences believes Roche's decision stems from a change in the sequencing market dynamics, the analyst notes, adding that Roche said "somewhat vaguely" that Sequel can no longer meet a list of requirements the company established. Additionally, Quirk believes the mid-point of Pacific Biosciences' 2017 guidance may be difficult to reach, and reiterates a Neutral rating on the shares.
12/15/16
CANT
12/15/16
NO CHANGE
Target $15
CANT
Overweight
Cantor says Roche deal termination significant negative for Pacific Biosciences
Cantor Fitzgerald analyst Bryan Brokmeier said Roche's (RHHBY) termination of its collaboration agreement with Pacific Biosciences is a "significant negative" for the latter, as he was forecasting Roche-generated revenues of $14.3M in 2017 and $27.5M in 2018. Pacific Bio should not lose all of that revenue, since it will now be able to sell into the clinical market or partner with another company, but that will require further investments, said Brokmeier, who has an Overweight rating and $15 price target on the stock.

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