Pacific Biosciences of California (NASDAQ:PACB) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research note issued to investors on Tuesday morning.

Other research analysts have also issued reports about the stock. Piper Sandler reiterated a “neutral” rating and issued a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Monday, November 11th. The Goldman Sachs Group lowered their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Scotiabank reduced their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. Finally, Stephens reissued an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Hold” and an average price target of $2.79.

Pacific Biosciences of California Stock Down 4.3 %

PACB stock opened at $1.56 on Tuesday. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $6.09. 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 has a market cap of $427.23 million, a price-to-earnings ratio of -0.95 and a beta of 1.92. The company has a 50 day moving average of $1.74 and a two-hundred day moving average of $1.79.

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

Insider Transactions at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now directly owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now directly owns 187,592 shares of the company’s stock, valued at $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors have recently added to or reduced their stakes in PACB. Softbank Group CORP. bought a new position in Pacific Biosciences of California during the 4th quarter valued at about $37,426,000. Millennium Management LLC increased its position in Pacific Biosciences of California by 66.9% in the 4th quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company’s stock valued at $31,230,000 after acquiring an additional 6,840,953 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Pacific Biosciences of California in the 4th quarter valued at about $8,962,000. ARK Investment Management LLC increased its position in 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 in the last quarter. Finally, Koss Olinger Consulting LLC increased its position in Pacific Biosciences of California by 150.0% in the 4th quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company’s stock valued at $3,660,000 after acquiring an additional 1,200,000 shares in the last quarter.

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.