The Goldman Sachs Group Issues Pessimistic Forecast for Pacific Biosciences of California (NASDAQ:PACB) Stock Price

Pacific Biosciences of California (NASDAQ:PACB) had its price objective decreased by analysts at The Goldman Sachs Group from $2.25 to $1.75 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 3.55% from the stock’s current price.

PACB has been the topic of a number of other reports. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research note on Monday, November 11th. 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. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.89.

Pacific Biosciences of California Trading Up 2.4 %

NASDAQ:PACB opened at $1.69 on Thursday. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $7.50. 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 stock has a market capitalization of $462.82 million, a price-to-earnings ratio of -1.16 and a beta of 1.95. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $1.82.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction on 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 sale, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pacific Biosciences of California

Institutional investors have recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. increased its holdings in Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Creative Planning raised its position in shares of Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 7,629 shares during the period. Water Island Capital LLC lifted its stake in shares of Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 9,537 shares in the last quarter. Atria Investments Inc boosted its holdings in Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares during the period. Finally, Impact Partnership Wealth LLC increased its stake in Pacific Biosciences of California by 29.5% in the 4th quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock worth $93,000 after buying an additional 11,566 shares in the last quarter.

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.