Pacific Biosciences of California (NASDAQ:PACB) Issues Quarterly Earnings Results, Meets Expectations

Pacific Biosciences of California (NASDAQ:PACB) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20), Zacks reports. Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%.

Pacific Biosciences of California Stock Performance

Shares of PACB traded up $0.12 on Thursday, reaching $1.48. 20,400,511 shares of the stock traded hands, compared to its average volume of 11,226,525. The stock’s 50-day moving average price is $1.82 and its 200-day moving average price is $1.80. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The firm has a market cap of $405.31 million, a price-to-earnings ratio of -1.01 and a beta of 1.92. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $6.83.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. The Goldman Sachs Group dropped their target price on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Scotiabank cut their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 11th. Piper Sandler raised their price objective on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and an average target price of $2.89.

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.