Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) PT at $3.63

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given an average recommendation of “Hold” by the fifteen research firms that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $3.63.

A number of analysts have issued reports on the company. 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 dropped their target price 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 report on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. Piper Sandler boosted 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 report on Monday, November 11th. Finally, UBS Group cut 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 research note on Monday, November 11th.

Institutional Trading of Pacific Biosciences of California

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

Pacific Biosciences of California Trading Up 2.5 %

Shares of NASDAQ:PACB opened at $2.03 on Wednesday. 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 stock’s 50-day moving average is $1.93 and its 200-day moving average is $1.76. The company has a market cap of $555.94 million, a P/E ratio of -1.39 and a beta of 1.95. Pacific Biosciences of California has a 52-week low of $1.16 and a 52-week high of $10.65.

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.