Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Consensus Rating of “Moderate Buy” from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2.89.

Several analysts have weighed in on the stock. 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 report on Monday, November 11th. Scotiabank dropped their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group dropped their price target on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PACB. Water Island Capital LLC increased its holdings in Pacific Biosciences of California by 91.1% in the 2nd 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 in the last quarter. PCA Investment Advisory Services Inc. raised its position 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 purchasing an additional 5,000 shares during the last quarter. Atom Investors LP purchased a new position in Pacific Biosciences of California in the 3rd quarter valued at about $30,000. Atria Investments Inc boosted its holdings in Pacific Biosciences of California by 85.7% in 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, Centiva Capital LP purchased a new stake in Pacific Biosciences of California during the 3rd quarter worth approximately $40,000.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.56 on Thursday. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $7.39. The company has a market cap of $427.22 million, a PE ratio of -1.07 and a beta of 1.95. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The business has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $1.82.

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.