Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2.95.

Several equities research analysts have recently weighed in on the stock. Scotiabank decreased their target price 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 note on Monday, November 11th. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research note on Monday, November 11th. Piper Sandler increased their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th.

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 Pacific Biosciences of California stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Hedge funds have recently made changes to their positions in the business. Water Island Capital LLC raised its stake in shares of Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 9,537 shares during the period. PCA Investment Advisory Services Inc. raised its stake in shares of 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 period. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $30,000. Atria Investments Inc raised its stake in shares of 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 valued at $37,000 after acquiring an additional 10,138 shares during the period. Finally, Centiva Capital LP purchased a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $40,000.

Pacific Biosciences of California Price Performance

Shares of PACB opened at $1.81 on Thursday. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $7.50. The company has a market capitalization of $495.69 million, a price-to-earnings ratio of -1.24 and a beta of 1.95. The firm has a 50-day simple moving average of $1.89 and a 200-day simple moving average of $1.82. 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 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.