Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $3.63 Consensus Price Target from Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given an average rating of “Hold” by the fifteen brokerages that are presently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $3.63.

PACB has been the topic of a number of recent research reports. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a report on Monday, November 11th. Piper Sandler boosted their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. Morgan Stanley decreased their target price on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. Finally, Scotiabank reduced their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ PACB opened at $2.03 on Wednesday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $1.76. Pacific Biosciences of California has a 52-week low of $1.16 and a 52-week high of $10.65. The stock has a market capitalization of $555.94 million, a P/E ratio of -1.40 and a beta of 1.95.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Clear Harbor Asset Management LLC lifted its holdings in Pacific Biosciences of California by 4.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 5,000 shares during the last quarter. Creative Planning raised 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 purchasing an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Pacific Biosciences of California by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 9,516 shares during the last quarter. Water Island Capital LLC lifted its stake in 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 valued at $27,000 after purchasing an additional 9,537 shares during the last quarter. Finally, Atria Investments Inc grew its position in Pacific Biosciences of California by 85.7% in 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 during 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.