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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.77.

Several research analysts have recently issued reports on the company. Scotiabank cut their price target on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $2.50 in a research report on Thursday, April 18th. JPMorgan Chase & Co. lowered shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research report on Monday, April 22nd. UBS Group cut their price objective on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, TD Cowen lowered their target price on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 17th.

Insider Buying and Selling

In other news, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the transaction, the insider now owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director David W. Meline bought 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $4.40 per share, with a total value of $176,000.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $176,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.96, for a total value of $200,017.60. Following the sale, the insider now directly owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,359 shares of company stock worth $218,843. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of large investors have recently modified their holdings of PACB. Interchange Capital Partners LLC increased its position in Pacific Biosciences of California by 11.9% during the 4th quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 1,991 shares in the last quarter. Private Advisor Group LLC grew its stake in Pacific Biosciences of California by 11.4% during the third quarter. Private Advisor Group LLC now owns 19,740 shares of the biotechnology company’s stock worth $165,000 after buying an additional 2,027 shares during the period. AtonRa Partners increased its position in shares of Pacific Biosciences of California by 4.0% in the third quarter. AtonRa Partners now owns 65,082 shares of the biotechnology company’s stock worth $543,000 after acquiring an additional 2,504 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Pacific Biosciences of California by 0.5% in the 4th quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company’s stock valued at $5,719,000 after acquiring an additional 2,832 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Pacific Biosciences of California by 18.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,227 shares of the biotechnology company’s stock valued at $169,000 after acquiring an additional 3,149 shares in the last quarter.

Pacific Biosciences of California Price Performance

PACB stock opened at $1.60 on Tuesday. The firm has a 50 day moving average of $3.58 and a 200-day moving average of $6.29. The company has a market cap of $428.72 million, a price-to-earnings ratio of -1.32 and a beta of 1.83. The company has a current ratio of 7.81, a quick ratio of 7.21 and a debt-to-equity ratio of 1.27. Pacific Biosciences of California has a 12-month low of $1.25 and a 12-month high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. The firm had revenue of $58.36 million during the quarter, compared to analysts’ expectations of $57.96 million. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. Pacific Biosciences of California’s revenue was up 113.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. As a group, equities analysts expect that Pacific Biosciences of California will post -1 EPS for the current fiscal year.

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.