Pacific Biosciences of California, Inc. (NASDAQ:PACB) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald set a $8.00 price objective on Pacific Biosciences of California and gave the stock a “buy” rating in a research report on Thursday, April 27th. Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus price target of $10.25.

Shares of Pacific Biosciences of California (PACB) traded up 5.21% during midday trading on Tuesday, reaching $3.43. The company’s stock had a trading volume of 398,422 shares. Pacific Biosciences of California has a 12 month low of $3.21 and a 12 month high of $9.85. The company’s market cap is $320.88 million. The stock has a 50-day moving average of $3.88 and a 200 day moving average of $4.80.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Wednesday, April 26th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.03. Pacific Biosciences of California had a negative return on equity of 87.51% and a negative net margin of 81.75%. The business had revenue of $24.90 million during the quarter, compared to the consensus estimate of $23.80 million. During the same quarter last year, the company earned ($0.23) earnings per share. The firm’s revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that Pacific Biosciences of California will post ($0.92) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of PACB. Athena Capital Advisors LLC purchased a new position in Pacific Biosciences of California during the first quarter valued at $114,000. Dynamic Technology Lab Private Ltd boosted its position in Pacific Biosciences of California by 44.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 30,231 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 9,240 shares in the last quarter. Karp Capital Management Corp purchased a new position in Pacific Biosciences of California during the first quarter valued at $116,000. Moloney Securities Asset Management LLC purchased a new position in Pacific Biosciences of California during the fourth quarter valued at $128,000. Finally, Biondo Investment Advisors LLC purchased a new position in Pacific Biosciences of California during the first quarter valued at $137,000. 71.68% of the stock is owned by institutional investors.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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