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

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $2.79.

A number of brokerages have issued reports on PACB. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. The Goldman Sachs Group dropped their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Finally, Stephens restated an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, 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 value of $45,776.12. Following the transaction, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 34,405 shares of the business’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 sale, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Institutional Trading of Pacific Biosciences of California

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in shares of Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 7,629 shares during the period. Atria Investments Inc lifted its position 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 valued at $37,000 after purchasing an additional 10,138 shares in the last quarter. Intech Investment Management LLC bought a new stake in Pacific Biosciences of California during the third quarter valued at about $190,000. Charles Schwab Investment Management Inc. increased its position in Pacific Biosciences of California by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock worth $3,469,000 after buying an additional 82,807 shares in the last quarter. Finally, Senvest Management LLC raised its stake in shares of Pacific Biosciences of California by 36.1% in the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after buying an additional 290,000 shares during the period.

Pacific Biosciences of California Stock Down 1.6 %

Shares of Pacific Biosciences of California stock opened at $1.22 on Friday. Pacific Biosciences of California has a 1 year low of $1.16 and a 1 year high of $4.10. The firm has a market cap of $334.11 million, a price-to-earnings ratio of -0.74 and a beta of 1.86. The company has a 50-day moving average of $1.57 and a 200 day 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 (NASDAQ:PACB) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting 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 business had revenue of $39.22 million during the quarter, compared to the consensus estimate of $39.20 million. During the same quarter last year, the firm earned ($0.27) earnings per share. As a group, sell-side analysts anticipate 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.