PACB - Pacific Biosciences slips as analysts trim price targets after Q4 2021 earnings
Pacific Biosciences (NASDAQ:PACB) has lost ~10% in the pre-market on Wednesday after several Wall Street analysts slashed their price targets on the life sciences company in reaction to its lower-than-expected earnings for Q4 2021. The company reported $36M in revenue for the quarter with ~33% YoY growth after the installed base of sequencing equipments, Sequel II/IIe systems rose 84% in the year to 374. The installments of Sequel II/IIe jumped ~37% YoY to 48 during the quarter, and the gross margin improved to ~47% from ~42% in the prior-year quarter. However, the company recorded $69.3M of net loss in Q4 2021 compared to $74.9M of net income in the prior year period. For the full year, revenue rose ~65% YoY to $130.5M as placements of Sequel II/IIe systems climbed ~97% YoY 171 units. While gross margin for the year increased to ~45% from ~41% in the previous year, the company recorded a
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Pacific Biosciences slips as analysts trim price targets after Q4 2021 earnings