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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Free Report) have been given an average rating of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2.89.

PACB has been the topic of several recent analyst reports. Scotiabank dropped their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 11th. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target 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 report on Thursday, January 9th. The Goldman Sachs Group dropped their target price on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler boosted their target price 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.

Read Our Latest Stock Analysis on Pacific Biosciences of California

Pacific Biosciences of California Stock Performance

PACB stock opened at $1.67 on Thursday. The stock has a market capitalization of $457.35 million, a PE ratio of -1.14 and a beta of 1.95. The stock’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $1.83. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $7.40. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97.

Insider Transactions at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pacific Biosciences of California

Several large investors have recently made changes to their positions in the business. ARK Investment Management LLC boosted its position in shares of Pacific Biosciences of California by 0.6% during the third quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock worth $56,791,000 after acquiring an additional 193,947 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pacific Biosciences of California by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock worth $10,759,000 after purchasing an additional 225,034 shares in the last quarter. State Street Corp boosted its holdings in shares of Pacific Biosciences of California by 5.7% during the 3rd 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 last quarter. Soros Fund Management LLC grew its position in shares of Pacific Biosciences of California by 23.6% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Pacific Biosciences of California by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock worth $3,469,000 after purchasing an additional 82,807 shares during the last quarter.

Pacific Biosciences of California Company Profile

(Get Free Report

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.

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Analyst Recommendations for Pacific Biosciences of California (NASDAQ:PACB)

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