Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $2.79 Consensus Target Price from Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $2.79.

Several equities analysts have recently commented on PACB shares. Stephens restated an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, February 18th.

Insider Transactions at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the sale, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 $3,242,831.62. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

Large investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its holdings in shares of Pacific Biosciences of California by 7.9% in the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company’s stock valued at $65,961,000 after acquiring an additional 2,637,961 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Pacific Biosciences of California by 5.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 21,346,480 shares of the biotechnology company’s stock valued at $39,064,000 after buying an additional 1,038,600 shares during the last quarter. Softbank Group CORP. acquired a new position in shares of Pacific Biosciences of California in the 4th quarter valued at about $37,426,000. Millennium Management LLC grew its holdings in Pacific Biosciences of California by 66.9% during the fourth quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company’s stock worth $31,230,000 after acquiring an additional 6,840,953 shares during the period. Finally, Geode Capital Management LLC raised its position in Pacific Biosciences of California by 3.7% during the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock valued at $10,759,000 after acquiring an additional 225,034 shares in the last quarter.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $1.22 on Friday. The stock has a market cap of $334.11 million, a price-to-earnings ratio of -0.74 and a beta of 1.86. The firm has a 50-day moving average of $1.60 and a two-hundred day moving average of $1.78. Pacific Biosciences of California has a 1 year low of $1.16 and a 1 year high of $4.10. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. On average, research analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current 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.