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

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $2.79.

Several equities analysts have recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday. The Goldman Sachs Group reduced their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research report on Monday, November 11th. Stephens reiterated an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Finally, Scotiabank dropped their price objective on shares of 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.

Pacific Biosciences of California Stock Down 6.1 %

Shares of Pacific Biosciences of California stock opened at $1.54 on Monday. The company has a fifty day moving average price of $1.76 and a 200 day moving average price of $1.79. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $6.09. The stock 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 posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The company had revenue of $39.22 million during the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same period in the prior year, the company posted ($0.27) EPS. Equities research analysts forecast that Pacific Biosciences of California will post -0.72 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 Michele Farmer sold 24,349 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the sale, the insider now owns 187,592 shares in the company, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Pacific Biosciences of California by 641.3% in the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after acquiring an additional 353,092 shares in the last quarter. State Street Corp boosted its holdings in shares of Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock valued at $10,669,000 after acquiring an additional 340,766 shares in the last quarter. Soros Fund Management LLC boosted its holdings in shares of Pacific Biosciences of California by 23.6% in the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after acquiring an additional 400,000 shares in the last quarter. Barclays PLC boosted its holdings in shares of Pacific Biosciences of California by 143.0% in the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock valued at $1,011,000 after acquiring an additional 350,196 shares in the last quarter. Finally, Senvest Management LLC boosted its holdings in shares of Pacific Biosciences of California by 36.1% in the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock valued at $1,860,000 after acquiring an additional 290,000 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.