Pacific Biosciences of California (NASDAQ:PACB) Upgraded to Sell at StockNews.com

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report issued on Tuesday.

Other equities analysts have also issued reports about the stock. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a report on Monday, November 11th. Scotiabank decreased their price target on 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. Stephens reaffirmed an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research report on Friday, February 14th. The Goldman Sachs Group decreased their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Finally, Piper Sandler restated a “neutral” rating and set a $2.00 target price (down previously from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.79.

Pacific Biosciences of California Trading Up 4.5 %

NASDAQ PACB opened at $1.63 on Tuesday. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $6.09. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The stock’s fifty day moving average price is $1.74 and its 200-day moving average price is $1.79. The stock has a market cap of $446.40 million, a P/E ratio of -0.99 and a beta of 1.92.

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

Insider Buying and Selling

In related news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele Farmer sold 24,349 shares of the company’s stock in a transaction that occurred 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 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 currently owned by insiders.

Institutional Investors Weigh In On Pacific Biosciences of California

Large investors have recently bought and sold shares of the business. PCA Investment Advisory Services Inc. lifted its position in Pacific Biosciences of California by 50.0% in the fourth 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 lifted its holdings in shares of Pacific Biosciences of California by 30.8% in the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 7,629 shares during the last quarter. Hsbc Holdings PLC grew its holdings in 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 valued at $154,000 after purchasing an additional 8,106 shares during the last quarter. Atria Investments Inc raised its position 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 purchasing an additional 10,138 shares during the period. Finally, Impact Partnership Wealth LLC lifted its stake in Pacific Biosciences of California by 29.5% in the fourth quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock worth $93,000 after purchasing 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.