Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Average Rating of “Hold” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $3.63.

PACB has been the subject of several recent research reports. UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. Piper Sandler increased their price objective on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. Finally, Scotiabank cut their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th.

Pacific Biosciences of California Trading Up 7.3 %

Pacific Biosciences of California stock opened at $2.34 on Wednesday. The company has a market cap of $640.84 million, a price-to-earnings ratio of -1.60 and a beta of 1.95. The firm has a 50-day moving average of $1.95 and a 200-day moving average of $1.76. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $10.65.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PACB. Water Island Capital LLC boosted its holdings in shares of Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 9,537 shares during the period. Simplicity Wealth LLC bought a new stake in Pacific Biosciences of California in the 2nd quarter valued at $29,000. Atom Investors LP acquired a new position in Pacific Biosciences of California in the 3rd quarter valued at $30,000. Impact Partnership Wealth LLC bought a new position in Pacific Biosciences of California during the 2nd quarter worth $37,000. Finally, Atria Investments Inc lifted its holdings in shares of Pacific Biosciences of California by 85.7% during the third 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 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.