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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $2.79.

A number of analysts have recently issued reports on PACB shares. The Goldman Sachs Group decreased their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and issued a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. Stephens restated an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a report on Friday, February 14th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th.

Insiders Place Their Bets

In other news, insider Michele Farmer sold 24,349 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. PCA Investment Advisory Services Inc. raised its position in shares of Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 5,000 shares in the last quarter. Atom Investors LP bought a new stake in Pacific Biosciences of California during the third quarter valued at $30,000. Atria Investments Inc raised its holdings in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 10,138 shares during the period. First Trust Advisors LP bought a new position in shares of Pacific Biosciences of California in the 4th quarter worth about $42,000. Finally, Centiva Capital LP acquired a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at about $40,000.

Pacific Biosciences of California Trading Down 6.3 %

Shares of PACB stock opened at $1.20 on Friday. The firm’s 50-day simple moving average is $1.63 and its 200-day simple moving average is $1.78. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $4.23. The firm has a market cap of $328.64 million, a P/E ratio of -0.73 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm 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 42.89% and a negative net margin of 200.40%. During the same quarter last year, the firm earned ($0.27) earnings per share. As a group, equities analysts forecast that Pacific Biosciences of California will post -0.72 EPS 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.