Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Average Recommendation of “Moderate Buy” by Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $2.85.

PACB has been the subject of a number of analyst reports. UBS Group lowered 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. Stephens reaffirmed an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday. Piper Sandler raised their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Monday, November 11th. Scotiabank lowered their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 11th. Finally, The Goldman Sachs Group lowered their price objective on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was 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 in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of large investors have recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. grew its stake in shares of Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 5,000 shares during the last quarter. Atom Investors LP bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at approximately $30,000. Atria Investments Inc boosted its position in Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 10,138 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Pacific Biosciences of California during the third quarter valued at approximately $40,000. Finally, First Trust Advisors LP purchased a new position in shares of Pacific Biosciences of California during the fourth quarter valued at approximately $42,000.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.85 on Monday. The stock has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.79. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $6.83. The firm has a market cap of $506.65 million, a price-to-earnings ratio of -1.27 and a beta of 1.92. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. The firm had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same period last year, the company earned ($0.27) earnings per share. Analysts anticipate that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

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.