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

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $2.79.

A number of research analysts have commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Friday, February 14th. Scotiabank dropped their price objective 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. UBS Group lowered 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. Finally, The Goldman Sachs Group dropped their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.54 on Monday. The company has a market capitalization of $421.75 million, a price-to-earnings ratio of -0.94 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $6.09. The company has a 50-day simple moving average of $1.76 and a 200 day simple moving average of $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $39.22 million for the quarter, compared to the consensus estimate 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 prior year, the business earned ($0.27) earnings per share. On average, sell-side analysts predict that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michele Farmer sold 24,349 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 owns 187,592 shares of the company’s stock, valued at $352,672.96. The trade was 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 Investors Weigh In On Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently bought and sold shares of PACB. Toronto Dominion Bank acquired a new stake in shares of Pacific Biosciences of California during the fourth quarter valued at about $1,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Pacific Biosciences of California by 7.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 551,904 shares of the biotechnology company’s stock valued at $1,010,000 after buying an additional 38,103 shares during the last quarter. Two Sigma Advisers LP boosted its position in Pacific Biosciences of California by 19.8% during the 4th quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company’s stock worth $307,000 after buying an additional 27,800 shares during the period. Two Sigma Investments LP grew its holdings in Pacific Biosciences of California by 139.4% during the 4th quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company’s stock worth $2,038,000 after acquiring an additional 648,407 shares during the last quarter. Finally, Softbank Group CORP. acquired a new position in Pacific Biosciences of California in the 4th quarter valued at approximately $37,426,000.

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.