Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $4.50 Consensus PT from Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been given an average rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.50.

Several research analysts have commented on PACB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Scotiabank dropped their target price on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group dropped their target price on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley cut their price target on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th.

Insider Activity

In related news, insider Oene Mark Van sold 38,011 shares of Pacific Biosciences of California stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Oene Mark Van sold 38,011 shares of Pacific Biosciences of California stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the sale, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. The trade was a 0.00 % decrease in their ownership of the stock. 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

Institutional investors have recently added to or reduced their stakes in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Pacific Biosciences of California by 54.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 67,364 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 23,619 shares during the period. Creative Planning grew its holdings in shares of Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 7,629 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Pacific Biosciences of California by 88.3% during the third quarter. Green Alpha Advisors LLC now owns 64,213 shares of the biotechnology company’s stock worth $109,000 after acquiring an additional 30,117 shares during the period. Mirador Capital Partners LP increased its holdings in Pacific Biosciences of California by 263.6% during the 3rd quarter. Mirador Capital Partners LP now owns 223,212 shares of the biotechnology company’s stock worth $379,000 after purchasing an additional 161,818 shares during the period. Finally, Water Island Capital LLC increased its stake in shares of Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 9,537 shares during the period.

Pacific Biosciences of California Trading Down 7.1 %

PACB stock opened at $1.84 on Tuesday. The company has a market capitalization of $501.46 million, a price-to-earnings ratio of -1.23 and a beta of 2.05. The business has a 50 day simple moving average of $1.66 and a two-hundred day simple moving average of $1.78. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The business had revenue of $36.01 million during the quarter, compared to analysts’ expectations of $40.52 million. Research analysts anticipate that Pacific Biosciences of California will post -0.95 EPS 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.