Pacific Biosciences of California (NASDAQ:PACB) Given New $1.50 Price Target at The Goldman Sachs Group

Pacific Biosciences of California (NASDAQ:PACB) had its target price trimmed by The Goldman Sachs Group from $1.75 to $1.50 in a research report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

A number of other research analysts have also weighed in on the stock. Stephens reissued an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Scotiabank cut 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 report on Monday, November 11th. UBS Group lowered 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 report on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. Finally, Piper Sandler boosted their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average price target of $2.83.

Pacific Biosciences of California Trading Up 1.1 %

Shares of NASDAQ:PACB opened at $1.87 on Tuesday. The stock has a market capitalization of $512.12 million, a PE ratio of -1.28 and a beta of 1.92. Pacific Biosciences of California has a 1 year low of $1.16 and a 1 year high of $6.09. The firm has a fifty day moving average price of $1.79 and a 200 day moving average price of $1.79. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) 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 period in the prior year, the company posted ($0.27) earnings per share. Analysts expect that Pacific Biosciences of California will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

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 owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

Hedge funds have recently modified their holdings of the company. PCA Investment Advisory Services Inc. increased its holdings in shares of Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 5,000 shares in the last quarter. Atom Investors LP acquired a new stake in shares of Pacific Biosciences of California during the third quarter worth approximately $30,000. Atria Investments Inc increased 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 buying an additional 10,138 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Pacific Biosciences of California during the third quarter worth approximately $40,000. Finally, First Trust Advisors LP acquired a new stake in shares of Pacific Biosciences of California during the fourth quarter worth approximately $42,000.

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.