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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.50.

Several analysts recently issued reports on PACB shares. Scotiabank cut their price target on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a "sector outperform" rating on the stock in a report on Wednesday, August 28th. Morgan Stanley reduced their price target on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an "equal weight" rating on the stock in a research report on Monday, August 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group decreased their target price on 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.

Pacific Biosciences of California Stock Down 6.1 %

Shares of NASDAQ PACB traded down $0.15 during midday trading on Friday, reaching $2.30. 27,341,825 shares of the company's stock were exchanged, compared to its average volume of 9,099,581. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. Pacific Biosciences of California has a 52-week low of $1.16 and a 52-week high of $10.65. The business's fifty day moving average price is $1.85 and its two-hundred day moving average price is $1.75. The stock has a market capitalization of $626.82 million, a PE ratio of -1.53 and a beta of 2.01.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. The company had revenue of $36.01 million for the quarter, compared to the consensus estimate of $40.52 million. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. Analysts forecast that Pacific Biosciences of California will post -0.95 EPS for the current year.

Insider Buying and Selling at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares of the company's stock, valued at $2,707,152.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Oene Mark Van sold 38,011 shares of the company's 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 completion of the sale, the insider now owns 1,630,815 shares of the company's stock, valued at $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the transaction, the insider now directly owns 869,730 shares in the company, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pacific Biosciences of California

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC lifted its holdings in Pacific Biosciences of California by 4.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company's stock valued at $164,000 after acquiring an additional 5,000 shares during the last quarter. Swiss National Bank raised its holdings in shares of Pacific Biosciences of California by 1.3% in the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company's stock worth $1,782,000 after purchasing an additional 6,200 shares in the last quarter. Creative Planning raised its holdings in shares of Pacific Biosciences of California by 30.8% in the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 7,629 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Pacific Biosciences of California during the first quarter valued at approximately $32,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Pacific Biosciences of California by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company's stock worth $322,000 after buying an additional 9,516 shares in the last quarter.

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.