Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Average Recommendation of "Moderate Buy" by Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirteen analysts that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $2.79.

Several equities analysts have recently issued reports on PACB shares. Stephens reaffirmed an "overweight" rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a report on Friday, February 14th. Scotiabank decreased their target price on 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. The Goldman Sachs Group cut 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 report on Tuesday. Piper Sandler restated a "neutral" rating and set a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday. Finally, UBS Group lowered shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price objective on the stock. in a research report on Monday, November 11th.

Insider Activity

In other news, insider Michele Farmer sold 24,349 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the transaction, the insider now directly owns 187,592 shares in the company, valued at $352,672.96. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Oene Mark Van sold 34,405 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of institutional investors have recently added to or reduced their stakes in the business. PCA Investment Advisory Services Inc. grew its holdings in shares of 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 purchasing an additional 5,000 shares in the last quarter. Atom Investors LP purchased a new position in Pacific Biosciences of California in the 3rd quarter worth approximately $30,000. Atria Investments Inc increased its holdings in shares of Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company's stock worth $37,000 after buying an additional 10,138 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter valued at $42,000. Finally, Centiva Capital LP bought a new stake in shares of Pacific Biosciences of California during the 3rd quarter worth $40,000.

Pacific Biosciences of California Stock Down 7.3 %

Shares of NASDAQ:PACB traded down $0.13 during mid-day trading on Monday, hitting $1.64. 18,711,639 shares of the company traded hands, compared to its average volume of 13,033,653. The stock has a market cap of $449.13 million, a P/E ratio of -1.00 and a beta of 1.92. The stock has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $1.79. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $6.09. 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 (NASDAQ:PACB - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). The firm had revenue of $39.22 million for the quarter, compared to the consensus estimate of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same period in the previous year, the firm earned ($0.27) EPS. On average, equities research analysts forecast that Pacific Biosciences of California will post -0.71 earnings per share for the current 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.