Pacific Biosciences of California’s (PACB) “Overweight” Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of Pacific Biosciences of California (NASDAQ:PACB) in a report issued on Friday morning,Benzinga reports. The firm currently has a $2.50 price objective on the biotechnology company’s stock.

A number of other brokerages have also issued reports on PACB. Piper Sandler increased their price objective 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. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. Scotiabank decreased 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 report on Monday, November 11th. UBS Group lowered 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. Finally, The Goldman Sachs Group decreased their price objective on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.85.

Pacific Biosciences of California Stock Up 25.0 %

Shares of Pacific Biosciences of California stock opened at $1.85 on Friday. 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 business’s 50 day simple moving average is $1.80 and its 200-day simple moving average is $1.79. The stock 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 twelve month low of $1.16 and a twelve month high of $6.83.

Pacific Biosciences of California (NASDAQ:PACB) last announced 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 business had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. During the same period in the prior year, the firm earned ($0.27) EPS. Equities research analysts forecast that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

Insider Activity

In other news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

A number of hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at $44,000. Soros Fund Management LLC lifted its holdings in shares of Pacific Biosciences of California by 13.1% in the fourth quarter. Soros Fund Management LLC now owns 2,372,265 shares of the biotechnology company’s stock valued at $4,341,000 after purchasing an additional 274,265 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Pacific Biosciences of California by 6.7% in the fourth quarter. Northern Trust Corp now owns 2,514,824 shares of the biotechnology company’s stock valued at $4,602,000 after purchasing an additional 157,145 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at $43,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at $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.