Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $2.95.

Several equities research analysts have commented on the company. Scotiabank cut their price objective on 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. Piper Sandler lifted their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Finally, UBS Group lowered 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 report on Monday, November 11th.

Pacific Biosciences of California Stock Down 3.6 %

Shares of NASDAQ PACB opened at $1.86 on Friday. Pacific Biosciences of California has a 52-week low of $1.16 and a 52-week high of $10.39. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The company’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $1.77. The firm has a market cap of $509.39 million, a price-to-earnings ratio of -1.27 and a beta of 1.95.

Hedge Funds Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Pacific Biosciences of California by 641.3% during the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after buying an additional 353,092 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Pacific Biosciences of California during the second quarter worth $719,000. State Street Corp raised its position in Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock valued at $10,669,000 after purchasing an additional 340,766 shares during the period. Soros Fund Management LLC lifted its stake in shares of Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Senvest Management LLC grew its holdings in shares of Pacific Biosciences of California by 36.1% during the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after purchasing an additional 290,000 shares during the period.

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.