Piper Sandler Reiterates Neutral Rating for Pacific Biosciences of California (NASDAQ:PACB)

Piper Sandler reaffirmed their neutral rating on shares of Pacific Biosciences of California (NASDAQ:PACB) in a research report report published on Thursday,Benzinga reports. The firm currently has a $2.00 target price on the biotechnology company’s stock, down from their previous target price of $2.50.

Several other research firms have also commented on PACB. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. Stephens restated an “overweight” rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a report on Friday, February 14th. 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. The Goldman Sachs Group lowered their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Finally, 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 report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Pacific Biosciences of California presently has an average rating of “Hold” and an average target price of $2.79.

Pacific Biosciences of California Price Performance

Shares of NASDAQ:PACB opened at $1.54 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The firm has a fifty day moving average price of $1.76 and a 200 day moving average price of $1.79. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $6.09. The firm has a market cap of $421.74 million, a price-to-earnings ratio of -0.94 and a beta of 1.92.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The business had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same quarter last year, the business earned ($0.27) earnings per share. As a group, sell-side analysts expect that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. PCA Investment Advisory Services Inc. increased its position in Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Creative Planning increased its position in Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 7,629 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Pacific Biosciences of California by 10.3% in the 4th quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 8,106 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its holdings in shares of Pacific Biosciences of California by 29.5% in the 4th quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock valued at $93,000 after buying an additional 11,566 shares in the last quarter.

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.