Is Pacific Biosciences The Best Biotech Stock To Buy In The Stock Market Today?
In the biotech world of genome sequencing, Illumina (NASDAQ: ILMN) may be the undisputed market leader. But when it comes to shareholder returns in the past year, Pacific Biosciences of California Inc. (NASDAQ: PACB) was one of the top performers, rewarding investors lavishly. For the uninitiated, Pacific Biosciences (or PacBio) is a biotechnology company that develops gene sequencing systems.Â
PacBioâs key product is its Sequel system, a nucleic acid sequencing platform based on Single Molecule, Real-Time Sequencing (SMRT) technology. The company has been growing its installed base. At the end of 2020, it has sold a total of 203 systems. Of these 203, 35 were installed in the fourth quarter of 2020. As the company sells more systems, it can generate more recurring revenues going forward from sale of consumables.Â
Pacific Biosciences stock skyrocketed on Wednesday amid a reported $900 million investment from SoftBank. SoftBank s SB NorthStar unit will buy $900 million
Pacific Biosciences stock rockets ahead of earnings, after Softbank makes $900 million investment MarketWatch 2/10/2021
MARKET PULSE
Shares of Pacific Biosciences of California Inc. shot up 22.3% toward a record in morning trading Wednesday, ahead of the genetic analysis company s fourth-quarter report due out after the closing bell, after the announcement that Japan-based Softbank Group Corp. invested $900 million in the company. The stock has now soared 230.0% over the past three months and skyrocketed 1,051.7% over the past year. In comparison, the iShares Nasdaq Biotechnology ETF has advanced 39.7% over the past 12 months and the S&P 500 has gained 16.5%. The company said Softbank s investment was in the form of convertible senior notes, which will mature in February 2028, and will have an initial conversion price of $43.50, or 10% above Tuesday s closing price of $39.54. We believe that PacBio s HiFi sequencing will be the de facto standard tool for populatio
Shares of Pacific Biosciences of California traded to a new 52-week high after the firm reported that a Softbank Group subsidiary will invest $900 million to support its growth initiatives.