Analysts Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) PT at $2.95

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has received an average rating of "Moderate Buy" from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $2.89.

Several brokerages have issued reports on PACB. Scotiabank lowered their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a "sector outperform" rating on the stock in a report on Monday, November 11th. UBS Group lowered shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. The Goldman Sachs Group decreased their price objective on Pacific Biosciences of California from $2.25 to $1.75 and set a "neutral" rating on the stock in a report on Thursday. Piper Sandler increased their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Monday, November 11th. Finally, StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research note on Thursday, January 9th.

Pacific Biosciences of California Stock Performance

NASDAQ PACB traded down $0.19 during midday trading on Thursday, hitting $1.63. The company had a trading volume of 18,171,528 shares, compared to its average volume of 11,301,935. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $1.82. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $7.50. 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 stock has a market cap of $445.02 million, a price-to-earnings ratio of -1.11 and a beta of 1.95.

Insider Transactions at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. increased its stake in shares of Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Atom Investors LP bought a new position in shares of Pacific Biosciences of California in the third quarter worth about $30,000. Water Island Capital LLC boosted its stake in shares of Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 9,537 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Pacific Biosciences of California by 85.7% during the 3rd 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 during the last quarter. Finally, Centiva Capital LP acquired a new position in Pacific Biosciences of California during the 3rd quarter worth approximately $40,000.

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.