Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) PT at $2.79

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $2.79.

PACB has been the subject of a number of research reports. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. Piper Sandler reiterated a “neutral” rating and set a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Stephens reissued an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was 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 directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michele Farmer sold 24,349 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the sale, the insider now directly owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of hedge funds have recently modified their holdings of the business. PCA Investment Advisory Services Inc. raised its holdings in Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Creative Planning increased its holdings in Pacific Biosciences of California by 30.8% in the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 7,629 shares during the last quarter. Hsbc Holdings PLC raised its position in Pacific Biosciences of California by 10.3% in the fourth quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 8,106 shares during the period. Atria Investments Inc lifted its stake in Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 10,138 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its position in shares of Pacific Biosciences of California by 29.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock worth $93,000 after buying an additional 11,566 shares during the period.

Pacific Biosciences of California Price Performance

NASDAQ:PACB opened at $1.22 on Friday. 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 has a 52 week low of $1.16 and a 52 week high of $4.10. The stock’s 50-day moving average price is $1.60 and its 200-day moving average price is $1.78. The stock has a market capitalization of $334.11 million, a PE ratio of -0.74 and a beta of 1.86.

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

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.