Shares of Pacific Biosciences of California (NASDAQ:PACB) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $6.27.

A number of equities analysts have issued reports on PACB shares. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. First Analysis downgraded shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a report on Friday, November 3rd. Finally, CL King downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective on the stock. in a report on Thursday, September 28th.

Pacific Biosciences of California (NASDAQ:PACB) opened at $2.74 on Tuesday. The company has a quick ratio of 3.15, a current ratio of 3.75 and a debt-to-equity ratio of 0.10. Pacific Biosciences of California has a fifty-two week low of $2.66 and a fifty-two week high of $7.07.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $23.54 million for the quarter, compared to the consensus estimate of $28.29 million. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. research analysts forecast that Pacific Biosciences of California will post -0.88 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Maverick Capital Ltd. boosted its holdings in shares of Pacific Biosciences of California by 16.9% in the 2nd quarter. Maverick Capital Ltd. now owns 10,603,944 shares of the biotechnology company’s stock worth $37,750,000 after buying an additional 1,530,070 shares during the last quarter. Capital World Investors boosted its holdings in shares of Pacific Biosciences of California by 532.3% in the 2nd quarter. Capital World Investors now owns 7,840,000 shares of the biotechnology company’s stock worth $27,910,000 after buying an additional 6,600,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pacific Biosciences of California by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock worth $13,988,000 after buying an additional 283,216 shares during the last quarter. State Street Corp boosted its holdings in shares of Pacific Biosciences of California by 7.5% in the 2nd quarter. State Street Corp now owns 1,521,245 shares of the biotechnology company’s stock worth $5,419,000 after buying an additional 106,607 shares during the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of Pacific Biosciences of California in the 2nd quarter worth about $5,363,000. 70.51% of the stock is currently owned by institutional investors.

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Pacific Biosciences of California Company Profile

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.

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