- Pacific Biosciences (PACB -21.2%) is getting roughed up today after posting Q1 results. During the conference call, management stated it was "cautious" about near-term instrument sales due to funding uncertainties related to certain U.S. customers. It now expects product and service revenue growth of 35 - 45% this year, down from the previous forecast of 40 - 60% and expects Q2 revenue to be lower than Q1.
- C.L. King's David Westenburg: There is "zero upside" this year, but still long-term potential for co's DNA sequencing technology. Trimmed guidance raises questions about the customer pipeline (BUY/$5.50).
- Piper's William Quirk: Have not heard similar commentary from industry peers about cuts in government orders (NEUTRAL/$5.10).
- Cantor's Bryan Brokmeier: Expects software release this summer to improve Sequel's ease-of-use. Commercialization of higher-margin Sequel platform and size of addressable market warrant a compelling valuation (OVERWEIGHT/$8.00).
- Source: Bloomberg
- Now read: Amicus: Key Catalysts Approaching
Original article