Why Pacific Biosciences of California Hit a Speed Bump With Its Q3 Results
Pacific Biosciences of California (NASDAQ: PACB) stock has been on a tear, more than tripling in just the last three months. It definitely helped that a top analyst, J.P. Morgan's Tycho Peterson, raised his price target for PacBio from $5 to $15 early last month.
But analysts' optimism has to be backed by solid financial results to keep this kind of momentum going. PacBio reported its third-quarter results after the market closed on Monday, and it looks like its hot streak has hit a speed bump.
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Source Fool.com
