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

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

Several equities research analysts have commented on PACB shares. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. Stephens reaffirmed an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday, February 14th. The Goldman Sachs Group decreased their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California 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 transaction, the insider now owns 187,592 shares in the company, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of the 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. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Pacific Biosciences of California by 641.3% during the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after buying an additional 353,092 shares in the last quarter. State Street Corp raised its holdings in shares of Pacific Biosciences of California by 5.7% during 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 during the period. Soros Fund Management LLC lifted its position in shares of Pacific Biosciences of California by 23.6% in the 3rd 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 stake in Pacific Biosciences of California by 143.0% in the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after purchasing an additional 350,196 shares during the period. Finally, Senvest Management LLC boosted its stake in Pacific Biosciences of California by 36.1% in the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after purchasing an additional 290,000 shares during the period.

Pacific Biosciences of California Trading Down 6.3 %

NASDAQ:PACB opened at $1.20 on Friday. The firm has a market capitalization of $328.64 million, a P/E ratio of -0.73 and a beta of 1.86. The business has a 50 day simple moving average of $1.63 and a 200 day simple moving average of $1.78. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $4.23.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $39.22 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.27) earnings per share. Equities research analysts predict that Pacific Biosciences of California will post -0.72 EPS for the current year.

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.