Shares of Pacific Biosciences of California (NASDAQ:PACB) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.27.

Several equities research analysts have recently commented on PACB shares. First Analysis cut shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. CL King cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price for the company. in a research report on Thursday, September 28th. Finally, BidaskClub raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st.

Several large investors have recently bought and sold shares of PACB. HighTower Advisors LLC lifted its position in shares of Pacific Biosciences of California by 35.1% in the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 7,225 shares during the period. Voya Investment Management LLC lifted its position in shares of Pacific Biosciences of California by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 6,218 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Pacific Biosciences of California in the 2nd quarter worth about $155,000. Aperio Group LLC lifted its position in shares of Pacific Biosciences of California by 105.5% in the 3rd quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 21,766 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Pacific Biosciences of California by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 5,145 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Shares of Pacific Biosciences of California (PACB) opened at $2.77 on Friday. The stock has a market cap of $322.01, a price-to-earnings ratio of -3.04 and a beta of 1.75. Pacific Biosciences of California has a twelve month low of $2.51 and a twelve month high of $5.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.75 and a quick ratio of 3.15.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $23.54 million for the quarter, compared to analyst estimates 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 company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) EPS. equities analysts expect that Pacific Biosciences of California will post -0.9 earnings per share for the current year.

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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.

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