Analysts Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) Target Price at $4.50

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.50.

Several equities research analysts have issued reports on the stock. Scotiabank cut their price objective on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a research report on Wednesday, August 28th. Morgan Stanley cut their price target on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group reduced their target price on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Pacific Biosciences of California Trading Down 7.8 %

Pacific Biosciences of California stock opened at $1.90 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. The stock has a 50-day simple moving average of $1.65 and a 200 day simple moving average of $1.82. The stock has a market capitalization of $517.48 million, a P/E ratio of -1.67 and a beta of 2.05. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $10.65.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The business had revenue of $36.01 million during the quarter, compared to the consensus estimate of $40.52 million. Analysts expect that Pacific Biosciences of California will post -0.95 earnings per share for the current year.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares in the company, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares in the company, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Hedge funds have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Pacific Biosciences of California by 955.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company’s stock valued at $39,402,000 after purchasing an additional 9,511,787 shares during the period. Vanguard Group Inc. boosted its stake in Pacific Biosciences of California by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company’s stock worth $262,806,000 after acquiring an additional 3,514,792 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Pacific Biosciences of California in the second quarter worth $1,775,000. Marshall Wace LLP increased its stake in Pacific Biosciences of California by 226.6% in the second quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock valued at $2,207,000 after purchasing an additional 1,117,966 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Pacific Biosciences of California during the second quarter valued at about $1,096,000.

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.