Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) Target Price at $3.63

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Eight investment 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 brokerages that have updated their coverage on the stock in the last year is $3.63.

PACB has been the subject of several recent analyst reports. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a report on Monday, November 11th. Scotiabank decreased their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, November 12th. Morgan Stanley decreased their target price on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. Finally, Piper Sandler lifted their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at $98,000. Simplicity Wealth LLC acquired a new stake in shares of Pacific Biosciences of California in the second quarter worth about $29,000. SG Americas Securities LLC boosted its stake in shares of Pacific Biosciences of California by 96.6% during the 2nd quarter. SG Americas Securities LLC now owns 42,078 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 20,677 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of Pacific Biosciences of California by 4.4% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Pacific Biosciences of California in the 2nd quarter valued at approximately $1,775,000.

Pacific Biosciences of California Trading Up 2.5 %

NASDAQ:PACB opened at $2.03 on Wednesday. The stock has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $1.76. The firm has a market capitalization of $555.94 million, a price-to-earnings ratio of -1.40 and a beta of 1.95. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

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.