Pacific Biosciences of California (NASDAQ:PACB) Issues Quarterly Earnings Results

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20), Zacks reports. Pacific Biosciences of California had a negative net margin of 227.69% and a negative return on equity of 42.71%. The company had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same quarter last year, the business posted ($0.27) EPS.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock traded up $0.37 during mid-day trading on Friday, reaching $1.85. 45,822,557 shares of the company traded hands, compared to its average volume of 10,437,161. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $6.83. The company has a market capitalization of $506.64 million, a price-to-earnings ratio of -1.27 and a beta of 1.92. The firm's fifty day moving average is $1.80 and its two-hundred day moving average is $1.79.

Insider Buying and Selling at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PACB. 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 report on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a research report on Friday. Piper Sandler upped their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a "neutral" rating in a research report on Monday, November 11th. Scotiabank lowered their price target 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. Finally, The Goldman Sachs Group lowered their price target on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Pacific Biosciences of California presently has an average rating of "Hold" and an average target price of $2.85.

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.