Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Rating of “Hold” by Brokerages

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have earned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $3.63.

PACB has been the subject of a number of analyst reports. Scotiabank lowered 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 report on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler upped their price objective 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, UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a report on Monday, November 11th.

Pacific Biosciences of California Stock Up 7.3 %

Shares of NASDAQ PACB opened at $2.34 on Wednesday. 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 firm has a market capitalization of $640.84 million, a PE ratio of -1.60 and a beta of 1.95. The firm’s 50-day moving average is $1.95 and its 200-day moving average is $1.76. Pacific Biosciences of California has a 1 year low of $1.16 and a 1 year high of $10.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in Pacific Biosciences of California in the 2nd quarter worth $1,775,000. Marshall Wace LLP boosted its position in shares of Pacific Biosciences of California by 226.6% during the second quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock worth $2,207,000 after buying an additional 1,117,966 shares during the period. Koss Olinger Consulting LLC acquired a new position in shares of Pacific Biosciences of California during the second quarter worth about $1,096,000. Squarepoint Ops LLC bought a new position in shares of Pacific Biosciences of California during the second quarter worth about $719,000. Finally, Federated Hermes Inc. acquired a new stake in Pacific Biosciences of California in the 2nd quarter valued at approximately $612,000.

Pacific Biosciences of California Company Profile

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.