Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $2.85 Average PT from Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $2.83.

A number of equities research analysts recently commented on PACB shares. Stephens reissued an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Scotiabank lowered their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 11th. Piper Sandler increased their price objective 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. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Monday, November 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday.

Insider Transactions at Pacific Biosciences of California

In other news, insider Michele Farmer sold 24,349 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now directly owns 187,592 shares in the company, valued at $352,672.96. This represents a 11.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Oene Mark Van sold 34,405 shares of the stock in a transaction dated Friday, January 10th. The stock was 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 approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. PCA Investment Advisory Services Inc. raised its holdings in Pacific Biosciences of California by 50.0% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Atom Investors LP purchased a new position in Pacific Biosciences of California in the third quarter valued at approximately $30,000. Atria Investments Inc raised its holdings in Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares during the period. Centiva Capital LP purchased a new position in Pacific Biosciences of California in the third quarter valued at approximately $40,000. Finally, First Trust Advisors LP purchased a new position in Pacific Biosciences of California in the fourth quarter valued at approximately $42,000.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.77 on Monday. The stock has a market cap of $484.73 million, a price-to-earnings ratio of -1.08 and a beta of 1.92. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $6.09. The company’s 50-day moving average price is $1.78 and its 200 day moving average price is $1.79. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same period in the prior year, the company earned ($0.27) EPS. As a group, research analysts forecast that Pacific Biosciences of California will post -0.68 earnings per share 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.