Pacific Biosciences Downgraded to Underweight by Barclays, Price Target Cut to $1.50

Pacific Biosciences of California (PACB) has had its rating cut to Underweight by Barclays, with a price target of $1.50, down from $2. The firm cites concerns over execution risks, particularly around consumables growth, system utilization, and possible pauses in demand as customers prepare for SPRQ NX. Despite this, Barclays maintains a fair value estimate of $2.43 per share. The downgrade reflects a tough setup for PACB shares in the near term.