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

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research note issued to investors on Friday morning.

A number of other analysts have also recently weighed in on PACB. Piper Sandler increased their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research note on Monday, November 11th. The Goldman Sachs Group reduced their target price on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Stephens restated an “overweight” rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday. Finally, Scotiabank reduced their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and a consensus target price of $2.85.

Pacific Biosciences of California Trading Up 25.0 %

NASDAQ PACB opened at $1.85 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The firm’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.79. The company has a market capitalization of $506.65 million, a price-to-earnings ratio of -1.27 and a beta of 1.92. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $6.83.

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

Insider Activity

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 shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pacific Biosciences of California

Several hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth about $44,000. Soros Fund Management LLC grew its holdings in shares of Pacific Biosciences of California by 13.1% during the fourth quarter. Soros Fund Management LLC now owns 2,372,265 shares of the biotechnology company’s stock worth $4,341,000 after buying an additional 274,265 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Pacific Biosciences of California by 6.7% during the fourth quarter. Northern Trust Corp now owns 2,514,824 shares of the biotechnology company’s stock worth $4,602,000 after buying an additional 157,145 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth about $43,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth about $353,000.

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.