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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.79.

Several research analysts have recently issued reports on the company. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their target price 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. Stephens reaffirmed an "overweight" rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Finally, Piper Sandler reiterated a "neutral" rating and set a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th.

Pacific Biosciences of California Stock Performance

Shares of PACB stock traded up $0.02 during trading hours on Friday, reaching $1.24. The stock had a trading volume of 7,417,665 shares, compared to its average volume of 10,044,362. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The firm has a 50-day simple moving average of $1.60 and a 200-day simple moving average of $1.78. The firm has a market capitalization of $339.59 million, a PE ratio of -0.76 and a beta of 1.86. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $4.10.

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Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its quarterly 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 return on equity of 42.89% and a negative net margin of 200.40%. The company had revenue of $39.22 million for the quarter, compared to analysts' expectations of $39.20 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. As a group, equities analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Insider Buying and Selling at Pacific Biosciences of California

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 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 legal filing with the SEC, 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 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. Insiders own 2.40% of the company's stock.

Institutional Trading of Pacific Biosciences of California

Several large investors have recently added to or reduced their stakes in the business. Softbank Group CORP. bought a new stake in Pacific Biosciences of California in the fourth quarter worth $37,426,000. Millennium Management LLC boosted its stake in shares of Pacific Biosciences of California by 66.9% during the 4th quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company's stock worth $31,230,000 after acquiring an additional 6,840,953 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Pacific Biosciences of California during the 4th quarter valued at about $8,962,000. ARK Investment Management LLC lifted its holdings in Pacific Biosciences of California by 7.9% in the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company's stock worth $65,961,000 after purchasing an additional 2,637,961 shares during the last quarter. Finally, Koss Olinger Consulting LLC boosted its position in Pacific Biosciences of California by 150.0% during the fourth quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company's stock worth $3,660,000 after purchasing an additional 1,200,000 shares during the period.

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.