Pacific Biosciences of California (NASDAQ:PACB) Upgraded at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB - Free Report) to a sell rating in a report issued on Tuesday.

PACB has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Piper Sandler reissued a "neutral" rating and set a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. Stephens reaffirmed an "overweight" rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Scotiabank decreased their price objective 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, UBS Group lowered Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price on the stock. in a research report on Monday, November 11th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.79.

Remove Ads

Pacific Biosciences of California Trading Down 0.7 %

PACB traded down $0.01 on Tuesday, reaching $1.45. 11,053,680 shares of the company's stock were exchanged, compared to its average volume of 10,050,892. The company has a market cap of $397.10 million, a price-to-earnings ratio of -0.88 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $6.09. The company's 50 day moving average is $1.73 and its 200-day moving average is $1.79.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The business had revenue of $39.22 million for the quarter, compared to the consensus estimate of $39.20 million. During the same quarter last year, the firm posted ($0.27) EPS. Equities analysts predict that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Insider Activity

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the firm's 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 directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michele Farmer sold 24,349 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now owns 187,592 shares of the company's stock, valued at $352,672.96. This represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of Pacific Biosciences of California

Hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its stake in shares of Pacific Biosciences of California by 7.9% in the fourth 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 in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Pacific Biosciences of California by 5.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 21,346,480 shares of the biotechnology company's stock worth $39,064,000 after acquiring an additional 1,038,600 shares during the period. Softbank Group CORP. acquired a new position in shares of Pacific Biosciences of California during the fourth quarter valued at approximately $37,426,000. Millennium Management LLC increased its stake in shares of Pacific Biosciences of California by 66.9% during the fourth quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company's stock valued at $31,230,000 after acquiring an additional 6,840,953 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Pacific Biosciences of California by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company's stock valued at $10,759,000 after purchasing an additional 225,034 shares during the period.

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.