Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) PT at $4.58

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.58.

A number of analysts have recently commented on the company. Jefferies Financial Group began coverage on Pacific Biosciences of California in a report on Monday, June 3rd. They issued a "buy" rating and a $4.00 price target on the stock. Morgan Stanley decreased their price target on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an "equal weight" rating for the company in a research note on Monday, August 12th. Barclays cut their price objective on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research report on Friday, May 10th. Canaccord Genuity Group reduced their target price on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a research note on Thursday, August 8th.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the company'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 in the company, valued at $1,382,870.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the transaction, the insider now directly owns 1,630,815 shares of the company's stock, valued at $2,707,152.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff Eidel sold 26,760 shares of Pacific Biosciences of California stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the sale, the insider now directly owns 869,730 shares of the company's stock, valued at approximately $1,382,870.70. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. grew its position in shares of Pacific Biosciences of California by 955.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company's stock valued at $39,402,000 after purchasing an additional 9,511,787 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pacific Biosciences of California by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company's stock valued at $262,806,000 after buying an additional 3,514,792 shares in the last quarter. Decheng Capital LLC bought a new position in Pacific Biosciences of California during the 4th quarter worth $28,845,000. Jackson Square Partners LLC lifted its holdings in shares of Pacific Biosciences of California by 40.0% during the fourth quarter. Jackson Square Partners LLC now owns 9,704,766 shares of the biotechnology company's stock worth $95,204,000 after buying an additional 2,770,901 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at about $13,486,000.

Pacific Biosciences of California Stock Up 2.6 %

PACB traded up $0.04 during trading on Monday, hitting $1.60. The company had a trading volume of 5,824,303 shares, compared to its average volume of 9,686,870. The company has a market capitalization of $435.77 million, a PE ratio of -1.37 and a beta of 2.05. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $11.96. The firm's 50-day moving average price is $1.60 and its 200 day moving average price is $2.63.

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.