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