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

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

PACB has been the topic of several other reports. Sanford C. Bernstein decreased their target price on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an outperform rating on the stock in a research report on Thursday, April 18th. TD Cowen decreased their target price on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a buy rating on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group assumed coverage on shares of Pacific Biosciences of California in a research report on Monday, June 3rd. They issued a buy rating and a $4.00 target price on the stock. Scotiabank reduced their price target on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a sector outperform rating on the stock in a research report on Thursday, April 18th. Finally, Piper Sandler reduced their price target on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a neutral rating on the stock in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $6.38.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $1.37 on Wednesday. Pacific Biosciences of California has a 12-month low of $1.25 and a 12-month high of $14.55. The stock has a market capitalization of $373.13 million, a P/E ratio of -1.20 and a beta of 2.01. The firm’s 50-day moving average is $1.76 and its two-hundred day moving average is $4.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The business had revenue of $38.81 million for the quarter, compared to analysts’ expectations of $38.78 million. Equities analysts predict that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

Institutional Trading of Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC bought a new stake in shares of Pacific Biosciences of California in the first quarter worth $98,000. EMC Capital Management boosted its holdings in Pacific Biosciences of California by 159.5% in the first quarter. EMC Capital Management now owns 32,700 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 20,100 shares during the period. Kennedy Capital Management LLC acquired a new position in Pacific Biosciences of California in the first quarter worth $64,000. Axxcess Wealth Management LLC boosted its holdings in Pacific Biosciences of California by 61.4% in the first quarter. Axxcess Wealth Management LLC now owns 35,175 shares of the biotechnology company’s stock worth $132,000 after purchasing an additional 13,382 shares during the period. Finally, Interchange Capital Partners LLC boosted its holdings in Pacific Biosciences of California by 53.1% in the first quarter. Interchange Capital Partners LLC now owns 28,641 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 9,932 shares during the period.

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.