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Investing.com - Bernstein SocGen Group raised its price target on Pacific Biosciences of California (NASDAQ:PACB) to $1.70 from $1.50 while maintaining an Outperform rating. The new target represents a 35% upside from the current price of $1.26, though InvestingPro data shows the stock has declined 31% year-to-date.
The adjustment comes as Bernstein observes "promising signs of clinical uptake" for PacBio’s systems in the laboratory and healthcare sectors.
According to the firm, one-third of PacBio’s Revio systems shipped during the most recent quarter went to laboratory-developed test (LDT), diagnostic, or hospital laboratories.
Bernstein notes that while PacBio is "taking the right steps" to penetrate the clinical market, questions remain about how quickly the company can expand its customer base.
The firm specifically highlights the challenge of converting trial users to "true clinical testing at scale" as a key factor in PacBio’s growth trajectory.
In other recent news, Pacific Biosciences of California reported its financial results for the second quarter of 2025, exceeding revenue expectations. The company achieved a revenue of $39.8 million, surpassing the forecasted $36.66 million, which represents an 8.57% surprise. Additionally, the earnings per share (EPS) showed a loss of $0.13, which was better than the anticipated loss of $0.17, marking a 23.53% surprise. These results indicate a notable performance for the quarter. There were no mergers announced in this period. Analyst firms have not provided any upgrades or downgrades following this earnings report. The focus remains on the company’s financial performance, as investors assess the implications of these recent developments.
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