Pacific Biosciences of California (NASDAQ:PACB) Stock Rating Upgraded by StockNews.com

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also weighed in on the stock. TD Cowen lowered their price target on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a report on Wednesday, April 17th. Piper Sandler cut their price objective 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. Scotiabank cut their price objective 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. Barclays cut their price target on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Finally, Jefferies Financial Group initiated coverage on shares of Pacific Biosciences of California in a research report on Monday, June 3rd. They set a “buy” rating and a $4.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.38.

Pacific Biosciences of California Stock Up 0.4 %

NASDAQ PACB opened at $1.36 on Wednesday. The stock has a market cap of $370.41 million, a PE ratio of -1.19 and a beta of 2.01. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28. Pacific Biosciences of California has a twelve month low of $1.25 and a twelve month high of $14.55. The firm has a 50-day simple moving average of $1.76 and a 200 day simple moving average of $4.56.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The firm had revenue of $38.81 million during the quarter, compared to analysts’ expectations of $38.78 million. Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. On average, research analysts forecast that Pacific Biosciences of California will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC acquired a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $98,000. EMC Capital Management lifted its stake in Pacific Biosciences of California by 159.5% in the 1st quarter. EMC Capital Management now owns 32,700 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 20,100 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Pacific Biosciences of California in the 1st quarter valued at approximately $64,000. Axxcess Wealth Management LLC raised its stake in shares of Pacific Biosciences of California by 61.4% during the first quarter. Axxcess Wealth Management LLC now owns 35,175 shares of the biotechnology company’s stock valued at $132,000 after acquiring an additional 13,382 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its stake in shares of Pacific Biosciences of California by 53.1% during the first quarter. Interchange Capital Partners LLC now owns 28,641 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 9,932 shares during the last quarter.

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.