Pacific Biosciences of California (PACB) Expected to Announce Quarterly Earnings on Thursday

Pacific Biosciences of California (NASDAQ:PACB) is projected to announce its earnings results after the market closes on Thursday, February 13th. Analysts expect the company to announce earnings of ($0.20) per share and revenue of $40.68 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock opened at $1.33 on Tuesday. The business has a 50 day simple moving average of $1.84 and a 200 day simple moving average of $1.81. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $6.83. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Wall Street Analyst Weigh In

Several analysts have recently commented on PACB shares. Piper Sandler increased their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Thursday, January 9th. Scotiabank decreased their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. The Goldman Sachs Group dropped their price objective on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Finally, UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.89.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.

About Pacific Biosciences of California

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.