Pacific Biosciences of California shares are trading lower after the company reported worse-than-expected Q2 revenue results. Also, Canaccord Genuity maintained a Buy rating on the stock but lowered its price target from $3.5 to $3.
Portfolio Pulse from Benzinga Newsdesk
Pacific Biosciences of California shares are trading lower after the company reported worse-than-expected Q2 revenue results. Canaccord Genuity maintained a Buy rating on the stock but lowered its price target from $3.5 to $3.
August 08, 2024 | 11:30 am
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Pacific Biosciences of California shares are trading lower due to worse-than-expected Q2 revenue results. Canaccord Genuity maintained a Buy rating but lowered the price target from $3.5 to $3.
The company's worse-than-expected Q2 revenue results have led to a decline in share price. Although Canaccord Genuity maintained a Buy rating, the lowered price target indicates reduced confidence in the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100