FY2024 EPS Estimates for PACB Reduced by Cantor Fitzgerald

Pacific Biosciences of California, Inc. (NASDAQ:PACB) – Equities researchers at Cantor Fitzgerald decreased their FY2024 earnings estimates for Pacific Biosciences of California in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now forecasts that the biotechnology company will post earnings of ($1.31) per share for the year, down from their prior forecast of ($1.27). Cantor Fitzgerald currently has a “Overweight” rating and a $3.50 target price on the stock. The consensus estimate for Pacific Biosciences of California’s current full-year earnings is ($0.91) per share.

Several other equities analysts have also recently weighed in on the company. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. Morgan Stanley lowered their target price on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Scotiabank cut their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th. Piper Sandler increased their price objective on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and an average target price of $3.63.

Pacific Biosciences of California Trading Down 1.6 %

Shares of PACB stock opened at $1.57 on Monday. The company has a current ratio of 9.74, a quick ratio of 7.14 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $10.65. The stock has a market capitalization of $429.96 million, a P/E ratio of -1.08 and a beta of 2.01. The firm’s 50 day moving average is $1.91 and its 200 day moving average is $1.77.

Institutional Trading of Pacific Biosciences of California

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Pacific Biosciences of California in the first quarter worth about $80,000. Swiss National Bank boosted its holdings in shares of Pacific Biosciences of California by 1.3% in the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after purchasing an additional 6,200 shares during the period. Axxcess Wealth Management LLC increased its position in shares of Pacific Biosciences of California by 61.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 35,175 shares of the biotechnology company’s stock valued at $132,000 after purchasing an additional 13,382 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Pacific Biosciences of California during the 1st quarter valued at $64,000. Finally, EMC Capital Management lifted its position in Pacific Biosciences of California by 159.5% in the first quarter. EMC Capital Management now owns 32,700 shares of the biotechnology company’s stock worth $114,000 after buying an additional 20,100 shares during 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.