Pacific Biosciences of California’s (PACB) Neutral Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of Pacific Biosciences of California (NASDAQ:PACB) in a research note published on Thursday,Benzinga reports. They currently have a $2.00 price objective on the biotechnology company’s stock, down from their previous price objective of $2.50.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of 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. Stephens reiterated an “overweight” rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday, February 14th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Friday, February 14th. Scotiabank dropped their target price on shares of 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. Finally, UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and an average price target of $2.79.

Pacific Biosciences of California Trading Down 6.1 %

NASDAQ:PACB opened at $1.54 on Thursday. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $6.09. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The company’s 50-day simple moving average is $1.76 and its 200 day simple moving average is $1.79. The firm has a market capitalization of $421.74 million, a P/E ratio of -0.94 and a beta of 1.92.

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

Insider Buying and Selling at Pacific Biosciences of California

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

Institutional Trading of Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC increased its stake in shares of Pacific Biosciences of California by 7.9% in the fourth quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company’s stock worth $65,961,000 after purchasing an additional 2,637,961 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of Pacific Biosciences of California by 5.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 21,346,480 shares of the biotechnology company’s stock worth $39,064,000 after purchasing an additional 1,038,600 shares in the last quarter. Softbank Group CORP. purchased a new stake in shares of Pacific Biosciences of California in the fourth quarter worth $37,426,000. Millennium Management LLC increased its stake in shares of Pacific Biosciences of California by 66.9% in the fourth quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company’s stock worth $31,230,000 after purchasing an additional 6,840,953 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Pacific Biosciences of California by 3.7% in the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock worth $10,759,000 after purchasing an additional 225,034 shares in the last quarter.

About Pacific Biosciences of California

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.