StockNews.com Upgrades Pacific Biosciences of California (NASDAQ:PACB) to “Sell”

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by research analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently weighed in on PACB. Stephens restated an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday. Piper Sandler boosted their price target on 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. Scotiabank decreased their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. The Goldman Sachs Group dropped their target price on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.85.

Pacific Biosciences of California Trading Up 25.0 %

PACB opened at $1.85 on Friday. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The firm has a market cap of $506.64 million, a price-to-earnings ratio of -1.27 and a beta of 1.92. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $6.83. The stock has a fifty day moving average price of $1.80 and a 200-day moving average price of $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $39.22 million during the quarter, compared to the consensus estimate of $39.20 million. Pacific Biosciences of California had a negative net margin of 227.69% and a negative return on equity of 42.71%. During the same period in the previous year, the company posted ($0.27) earnings per share. As a group, equities research analysts anticipate that Pacific Biosciences of California will post -0.91 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 Oene Mark Van sold 34,405 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently modified their holdings of PACB. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at approximately $44,000. Soros Fund Management LLC increased its holdings in Pacific Biosciences of California by 13.1% in the 4th quarter. Soros Fund Management LLC now owns 2,372,265 shares of the biotechnology company’s stock worth $4,341,000 after acquiring an additional 274,265 shares in the last quarter. Northern Trust Corp raised its position in Pacific Biosciences of California by 6.7% during the fourth quarter. Northern Trust Corp now owns 2,514,824 shares of the biotechnology company’s stock worth $4,602,000 after acquiring an additional 157,145 shares during the period. Boothbay Fund Management LLC purchased a new position in Pacific Biosciences of California during the fourth quarter valued at $43,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at about $353,000.

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.