Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $4.50 Average Price Target from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.63.

Several research firms have commented on PACB. Piper Sandler lifted their price objective 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. Morgan Stanley dropped their target price on 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 upgraded Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Finally, Scotiabank reduced their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research note on Monday.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of Pacific Biosciences of California stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the transaction, the insider now owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacific Biosciences of California

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PACB. ARK Investment Management LLC grew its stake in shares of Pacific Biosciences of California by 0.6% during the 3rd quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock worth $56,791,000 after purchasing an additional 193,947 shares during the period. Edmond DE Rothschild Holding S.A. increased its holdings in Pacific Biosciences of California by 955.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company’s stock valued at $39,402,000 after buying an additional 9,511,787 shares in the last quarter. Marshall Wace LLP raised its position in shares of Pacific Biosciences of California by 226.6% in the second quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock worth $2,207,000 after acquiring an additional 1,117,966 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth about $1,775,000. Finally, BNP Paribas Financial Markets grew its position in shares of Pacific Biosciences of California by 100.3% during the 1st quarter. BNP Paribas Financial Markets now owns 1,167,708 shares of the biotechnology company’s stock valued at $4,379,000 after acquiring an additional 584,734 shares during the period.

Pacific Biosciences of California Trading Up 7.0 %

Shares of NASDAQ PACB opened at $2.46 on Friday. The stock has a market capitalization of $670.42 million, a P/E ratio of -1.68 and a beta of 2.01. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65. The business’s 50 day moving average is $1.88 and its two-hundred day moving average is $1.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14.

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.