Pacific Biosciences of California Inc (PACB)

[Timetravelerdos]

10 Best Pharma Stocks to Buy Now Pacific Biosciences ranks 8th on the list of 10 best pharma stocks to buy now. The company makes systems and technologies for gene sequencing. The company offers a single-molecule real-time sequencing (SMRT) platform based on properties of zero-mode waveguides. In February, the stock was upgraded by Piper Sandler to overweight from neutral with a price target of $52, up from $20. The firm cited Softbank’s $900 million investment in the company for the upgrade.

As of the end of the fourth quarter, 23 hedge funds in Insider Monkey’s database of 887 funds held stakes in PACB, compared to 25 funds in the third quarter. Cathie Wood's ARK Investment Management is the biggest stakeholder in the company, with 28.5 million shares, worth $739.4 million.

In the Q4 2020 Investor Letter, Baron Discovery Fund highlighted a few stocks and Pacific Biosciences Of California Inc. (NASDAQ:PACB) is one of them. Here is what Baron Discovery Fund said:

"Pacific Biosciences of California, Inc. offers a differentiated long-read DNA sequencing platform for genetic analysis. Shares performed exceedingly well in the quarter, up about 162%. We believe there is increasing excitement about the potential for its platform as it lowers sequencing costs and has the potential to move beyond its current commercial niche. The recently appointed CEO, Christian Henry, had previously served as CFO and Chief Commercial Officer at Illumina, and we think he is well qualified to commercially execute on Pacific Biosciences’ differentiated long-read platform.”

https://finance.yahoo.com/news/10-best-pharma-stocks-buy-144603194.html