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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.77.

Several equities research analysts recently commented on the company. Scotiabank dropped their price objective on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 18th. TD Cowen reduced their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Barclays reduced their price objective on shares of Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. JPMorgan Chase & Co. downgraded Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Finally, Sanford C. Bernstein reduced their price target on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating on the stock in a report on Thursday, April 18th.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 33,560 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.96, for a total value of $200,017.60. Following the sale, the insider now directly owns 876,611 shares in the company, valued at $5,224,601.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Pacific Biosciences of California news, Director David W. Meline acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of $4.40 per share, with a total value of $176,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares in the company, valued at $176,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the sale, the insider now directly owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Insiders have sold 37,359 shares of company stock worth $218,843 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Pacific Biosciences of California during the third quarter valued at about $59,000. Private Wealth Partners LLC purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter valued at about $98,000. First Trust Direct Indexing L.P. bought a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at about $98,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Pacific Biosciences of California during the 3rd quarter worth approximately $105,000. Finally, Carret Asset Management LLC raised its stake in shares of Pacific Biosciences of California by 52.4% during the 1st quarter. Carret Asset Management LLC now owns 32,000 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 11,000 shares in the last quarter.

Pacific Biosciences of California Stock Up 8.8 %

NASDAQ:PACB opened at $1.60 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81. The firm has a market cap of $428.72 million, a P/E ratio of -1.32 and a beta of 1.83. Pacific Biosciences of California has a fifty-two week low of $1.25 and a fifty-two week high of $14.55. The firm has a 50-day simple moving average of $3.58 and a two-hundred day simple moving average of $6.29.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The firm had revenue of $58.36 million for the quarter, compared to analysts’ expectations of $57.96 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. The business’s revenue for the quarter was up 113.3% on a year-over-year basis. Analysts predict that Pacific Biosciences of California will post -1 earnings per share for the current fiscal 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.