Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Average Rating of "Hold" from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been assigned an average rating of "Hold" from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.63.

Several research analysts recently weighed in on PACB shares. Scotiabank dropped 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. Canaccord Genuity Group dropped 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 research report on Thursday, August 8th. Piper Sandler upped their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a "neutral" rating in a research report on Monday, November 11th. Morgan Stanley dropped their target price 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 report on Monday, August 12th. Finally, UBS Group cut shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price for the company. in a research report on Monday, November 11th.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PACB. Squarepoint Ops LLC bought a new stake in Pacific Biosciences of California during the 2nd quarter worth about $719,000. Senvest Management LLC lifted its position in Pacific Biosciences of California by 36.1% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. bought a new stake in Pacific Biosciences of California during the 2nd quarter worth about $1,775,000. Cetera Advisors LLC bought a new stake in Pacific Biosciences of California during the 1st quarter worth about $98,000. Finally, Marshall Wace LLP lifted its position in Pacific Biosciences of California by 226.6% during the 2nd quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company's stock worth $2,207,000 after buying an additional 1,117,966 shares in the last quarter.

Pacific Biosciences of California Trading Up 13.7 %

PACB stock traded up $0.25 during trading on Wednesday, hitting $2.08. The company had a trading volume of 17,710,739 shares, compared to its average volume of 9,637,558. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $1.91 and a 200-day moving average price of $1.76. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $10.65. The stock has a market cap of $569.63 million, a price-to-earnings ratio of -1.44 and a beta of 1.95.

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.