Pacific Biosciences (PACB) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Pacific Biosciences (PACB) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
PacBio's (PACB) revenue growth in the first quarter is likely to have been hampered by an increasing number of customers delaying instrument purchases and softness in consumable shipments.