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PACB

Pacific Biosciences

$5.13

-0.005 (-0.10%)

, ILMN

Illumina

$310.36

7.85 (2.60%)

04:56
10/15/19
10/15
04:56
10/15/19
04:56

Pacific Biosciences upgraded to Overweight from Neutral at Piper Jaffray

Piper Jaffray analyst William Quirk upgraded Pacific Biosciences of California (PACB) to Overweight from Neutral with an unchanged price target of $8. The analyst's Sequel II checks imply 36 to 42 placements in Q3, above his original 35 estimate. The market has been preoccupied with concerns about the Illumina (ILMN) deal falling through, and Pacific's valuation does not reflect the Sequel II launch, Quirk tells investors in a research note. If the deal fails, he believes Pacific Biosciences should be valued at seven times estimated 2020 revenue, or just under $8 per share. The stock closed Monday at $5.13. The analyst cites "strong" channel checks and the current valuation for his upgrade to Overweight.

PACB

Pacific Biosciences

$5.13

-0.005 (-0.10%)

ILMN

Illumina

$310.36

7.85 (2.60%)

  • 24

    Oct

  • 06

    Nov

PACB Pacific Biosciences
$5.13

-0.005 (-0.10%)

04/02/19
SPHN
04/02/19
DOWNGRADE
Target $8
SPHN
Equal Weight
Pacific Biosciences downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Drew Jones downgraded Pacific Biosciences of California (PACB) to Equal Weight from Overweight while raising his price target for the shares to $8 from $4.50. The shares are within 10% of the looming purchase price by Illumina (ILMN), Jones tells investors in a research note. He believes all public commentary suggests the deal remains on track to close in mid-2019.
04/02/19
04/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Sell from Neutral at UBS with analyst Michael Leuchten saying last week's oncology deal with Japan's Daiichi Sankyo suggests limited cash generation in the near term and is a sign of slow margin recovery. 2. Alcoa (AA) downgraded to Neutral from Outperform at Credit Suisse with analyst Curt Woodworth saying China is set to accelerate supply growth over the next several years as capacity swaps convert to new smelters and provincial focus pivots to growth model. 3. Pacific Biosciences (PACB) downgraded to Equal Weight from Overweight at Stephens with analyst Drew Jones saying the shares are within 10% of the looming purchase price by Illumina (ILMN). 4. Wingstop (WING) downgraded to Neutral from Buy at Guggenheim with analyst Matthew DiFrisco saying he sees increased risk to moderating new store growth and the current valuation multiple. 5. DowDuPont (DWDP) downgraded to Neutral from Buy at Citi and BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/13/19
CANT
06/13/19
NO CHANGE
Target $8
CANT
Neutral
Cantor sees Pacific Biosciences deal closing despite U.K. probe risk
Cantor Fitzgerald analyst Jordan Abrams points out that the deadline for the U.K.'s Competition and Markets Authority to determine whether or not to move to a Phase 2 investigation on Illumina's (ILMN) proposed buyout of Pacific Biosciences (PACB) is June 18. The analyst's due diligence suggests the acquisition is at risk to move to a Phase 2 investigation, but his view is that the deal will ultimately close. Nonetheless, he expects additional pressure on Pacific Biosciences shares if CMA moves forward with a Phase 2 investigation. Pacific shares last closed at a 19% discount $8 acquisition price, and the deal is still expected to close mid-2019, Abrams tells investors in a research note. He keeps a Neutral rating on Pacific Biosciences.
06/20/19
CANT
06/20/19
NO CHANGE
Target $8
CANT
Neutral
Cantor still expects Pacific Biosciences deal to be approved in Europe
Cantor Fitzgerald analyst Jordan Abrams still expects Illumina's (ILMN) acquisition of Pacific Biosciences (PACB) to be approved in Europe after the Competition and Markets Authority referred the deal to a Phase 2 investigation. The CMA's initial due diligence on anti-competitive concerns was justified, but a better understanding of Pacific Biosciences technology will show that long-read in its current form is a complement, rather than a substitute, to short-read, Abrams tells investors in a research note after hosting an investor call with a competition specialist. He keeps a Neutral rating on Pacific shares with an $8 price target.
ILMN Illumina
$310.36

7.85 (2.60%)

07/30/19
ADAM
07/30/19
DOWNGRADE
Target $300
ADAM
Hold
Illumina downgraded to Hold from Buy at Canaccord
Canaccord analyst Mark Massaro downgraded Illumina to Hold from Buy following its disappointing Q2 preannounced earnings miss. The analyst said he has even further doubt of a reacceleration of its growth in its various units. In addition to its lower growth outlook, he cited mix pressures to gross margins and its premium valuation. Massaro lowered his price target to $300 from $330 on Illumina shares.
09/25/19
ARGS
09/25/19
NO CHANGE
Target $340
ARGS
Buy
Illumina price target raised to $340 from $300 at Argus
Argus analyst Jasper Hellweg raised his price target on Illumina to $340 and kept his Buy rating, even though the its recent quarterly results have been "uneven" as the company is managing a product transition. The analyst keeps his FY19 EPS view of $6.07 to reflect his view of shrinking margins and decelerating revenue growth, but contends that many of Illumina's issues will be temporary. Hellweg expects the company to return to double-digit earnings growth in FY20.
09/27/19
PIPR
09/27/19
NO CHANGE
Target $348
PIPR
Overweight
Illumina population genomics pipeline 'remains robust,' says Piper Jaffray
Piper Jaffray analyst William Quirk says his population genomics project checks suggest the opportunity "remains robust" and has grown since his last check a year ago. Despite a delayed release of funds in 2019, the analyst's overall sequencing spend estimates through 2021 increased by 30% from his previous forecast. Illumina cut 2019 guidance by $250M and Quirk believes $80M-$85M of it was related to population genomics. Though projects have ramped slower than expected, Illumina's opportunity "remains large and continues to grow," says the analyst. He keeps an Overweight rating on Illumina shares with a $348 price target.
10/07/19
PIPR
10/07/19
NO CHANGE
Target $348
PIPR
Overweight
Illumina checks show 70 NovaSeq placements this quarter, says Piper Jaffray
Piper Jaffray analyst William Quirk says his channel checks suggested Illumina had ~70 NovaSeq placements this quarter, in line with his estimate. He believes institutions like DeCode Genetics and Sanger are ramping their instrument fleets ahead of large upcoming PopGen projects like UK BioBank. The analyst, who says his checks typically find about 50% of NovaSeq placements each quarter, keeps an Overweight rating on Illumina shares with a $348 price target.

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MU

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CCNE

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BA

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YY

YY

$65.12

-0.28 (-0.43%)

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HUYA

Huya

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YY

YY

$65.12

-0.28 (-0.43%)

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HUYA

Huya

$24.28

-1.05 (-4.15%)

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YY

YY

$65.12

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LAZ

Lazard

$38.51

-0.03 (-0.08%)

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BA

Boeing

$362.89

-4.08 (-1.11%)

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