Pacific Biosciences of California’s share price recorded a surprise increase of 12.86% to $1.58 on Thursday. This sudden jump in price occurred without any apparent company news and surprised many investors. Trading volume was significantly increased with 25.5 million shares traded, indicating increased investor interest.
Analysts see high price potential
Despite the recent price increase, analysts still see significant upside potential for the stock. Some experts even predict a price target of over 200% above the current level. However, the biotechnology company remains unprofitable, which makes some investors cautious. In the coming weeks, investors will likely be eagerly awaiting further company news and the next quarterly report at the end of October.
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