Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Free Report) has been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.50.

PACB has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Morgan Stanley reduced their price objective on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Scotiabank cut their target price on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of Pacific Biosciences of California in a report on Thursday, August 8th.

View Our Latest Stock Report on Pacific Biosciences of California

Pacific Biosciences of California Stock Up 4.2 %

Shares of PACB stock opened at $1.98 on Tuesday. Pacific Biosciences of California has a 1 year low of $1.16 and a 1 year high of $10.65. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. The business’s fifty day moving average is $1.66 and its 200-day moving average is $1.79. The stock has a market cap of $539.61 million, a PE ratio of -1.32 and a beta of 2.05.

Pacific Biosciences of California (NASDAQ:PACB – Get Free Report) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The firm had revenue of $36.01 million for the quarter, compared to analyst estimates of $40.52 million. Equities analysts expect that Pacific Biosciences of California will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Biosciences of California

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

Hedge Funds Weigh In On Pacific Biosciences of California

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Pacific Biosciences of California by 54.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 67,364 shares of the biotechnology company’s stock worth $115,000 after buying an additional 23,619 shares during the last quarter. Creative Planning boosted its stake 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 worth $55,000 after acquiring an additional 7,629 shares in the last quarter. Green Alpha Advisors LLC increased its holdings in shares of Pacific Biosciences of California by 88.3% during the 3rd quarter. Green Alpha Advisors LLC now owns 64,213 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 30,117 shares during the last quarter. Mirador Capital Partners LP raised its stake in shares of Pacific Biosciences of California by 263.6% in the 3rd quarter. Mirador Capital Partners LP now owns 223,212 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 161,818 shares in the last quarter. Finally, Water Island Capital LLC lifted its holdings in Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 9,537 shares during the last quarter.

Pacific Biosciences of California Company Profile

(Get Free Report

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.

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