Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $2.85 Average Target Price from Brokerages

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $2.79.

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Friday, February 14th. Stephens reissued an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research report on Friday, February 14th. 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. 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 report on Tuesday. Finally, Piper Sandler reissued a “neutral” rating and issued a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday.

Pacific Biosciences of California Trading Down 6.1 %

Shares of PACB stock opened at $1.54 on Monday. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $6.09. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The stock has a market cap of $421.75 million, a price-to-earnings ratio of -0.94 and a beta of 1.92. The stock has a 50-day moving average of $1.76 and a 200-day moving average of $1.79.

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 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 during the quarter, compared to the consensus estimate of $39.20 million. During the same quarter in the prior year, the firm posted ($0.27) EPS. On average, equities research analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michele Farmer sold 24,349 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the transaction, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

Hedge funds have recently made changes to their positions in the stock. PCA Investment Advisory Services Inc. raised 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 worth $27,000 after acquiring an additional 5,000 shares during the last quarter. Atom Investors LP purchased a new stake in Pacific Biosciences of California in the third quarter worth approximately $30,000. Atria Investments Inc grew its position in Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 10,138 shares during the period. Centiva Capital LP purchased a new stake in Pacific Biosciences of California during the 3rd quarter valued at $40,000. Finally, First Trust Advisors LP bought a new position in shares of Pacific Biosciences of California during the 4th quarter valued at $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.