Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Rating of “Moderate Buy” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $2.79.

PACB has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Scotiabank decreased their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 11th. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Friday, February 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 target price (down previously from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday.

Pacific Biosciences of California Price Performance

Shares of PACB opened at $1.54 on Monday. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $6.09. The stock’s 50 day moving average is $1.76 and its two-hundred day moving average is $1.79. The firm has a market capitalization of $421.74 million, a PE ratio of -0.94 and a beta of 1.92. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same quarter in the previous year, the company earned ($0.27) EPS. Research analysts anticipate that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the transaction, the insider now directly owns 187,592 shares in the company, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the sale, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Pacific Biosciences of California

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PCA Investment Advisory Services Inc. increased its holdings in shares of Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 5,000 shares during the last quarter. Creative Planning increased its holdings in shares of Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after buying an additional 7,629 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Pacific Biosciences of California by 10.3% during the 4th quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company’s stock worth $154,000 after buying an additional 8,106 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares during the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in shares of Pacific Biosciences of California by 29.5% during the 4th quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock worth $93,000 after buying an additional 11,566 shares during the last quarter.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.