Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Average Rating of “Moderate Buy” from Analysts

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

A number of research firms have weighed in on PACB. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Stephens reissued an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research report on Friday, February 14th. The Goldman Sachs Group decreased their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Finally, Piper Sandler reissued a “neutral” rating and issued a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th.

Insider Transactions at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michele Farmer sold 24,349 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction 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 position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently bought and sold shares of the business. PCA Investment Advisory Services Inc. raised its stake in Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 5,000 shares during the period. Atom Investors LP acquired a new stake in Pacific Biosciences of California during the third quarter worth about $30,000. Atria Investments Inc raised its stake in Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 10,138 shares during the period. Centiva Capital LP acquired a new stake in Pacific Biosciences of California during the third quarter worth about $40,000. Finally, First Trust Advisors LP acquired a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at approximately $42,000.

Pacific Biosciences of California Stock Up 0.8 %

Shares of Pacific Biosciences of California stock opened at $1.26 on Friday. The company has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.77. 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 $4.10. The stock has a market cap of $375.29 million, a price-to-earnings ratio of -0.77 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The firm had revenue of $39.22 million during the quarter, compared to analysts’ expectations of $39.20 million. During the same period in the prior year, the company earned ($0.27) EPS. Equities research analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal 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.