Stephens Reiterates Overweight Rating for Pacific Biosciences of California (NASDAQ:PACB)

Stephens reiterated their overweight rating on shares of Pacific Biosciences of California (NASDAQ:PACB) in a report published on Friday,Benzinga reports. The brokerage currently has a $2.50 target price on the biotechnology company’s stock.

Several other analysts have also weighed in on PACB. The Goldman Sachs Group lowered their target price on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. 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. 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. 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. Finally, StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Thursday, January 9th. One 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.85.

Pacific Biosciences of California Stock Up 25.0 %

PACB opened at $1.85 on Friday. The firm’s fifty day moving average price is $1.80 and its 200 day moving average price is $1.79. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $6.83.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative net margin of 227.69% and a negative return on equity of 42.71%. During the same quarter last year, the business earned ($0.27) earnings per share. On average, equities research analysts anticipate that Pacific Biosciences of California will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently bought and sold shares of the business. PCA Investment Advisory Services Inc. lifted its holdings in 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 acquiring an additional 5,000 shares during the last quarter. Atom Investors LP acquired a new stake in Pacific Biosciences of California in the 3rd quarter valued at about $30,000. Atria Investments Inc lifted its stake in Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares in the last quarter. Centiva Capital LP purchased a new stake in Pacific Biosciences of California during the third quarter valued at about $40,000. Finally, First Trust Advisors LP purchased a new stake in Pacific Biosciences of California during the fourth quarter valued at about $42,000.

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.