Pacific Biosciences of California (NASDAQ:PACB) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday. First Analysis cut 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 research report on Friday, November 3rd. Finally, CL King cut 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 research report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $6.27.

Pacific Biosciences of California (NASDAQ:PACB) traded up $0.20 during midday trading on Friday, reaching $2.72. 1,521,526 shares of the company’s stock traded hands, compared to its average volume of 1,090,000. Pacific Biosciences of California has a 12-month low of $2.51 and a 12-month high of $5.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.15 and a current ratio of 3.75. The stock has a market cap of $316.20, a PE ratio of -2.99 and a beta of 1.75.

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 for the quarter, topping the consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The firm had revenue of $23.54 million for the quarter, compared to analysts’ expectations of $28.29 million. During the same period in the previous year, the company posted ($0.19) EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. equities research analysts expect that Pacific Biosciences of California will post -0.89 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of PACB. Capital World Investors boosted its stake in shares of Pacific Biosciences of California by 532.3% during the 2nd quarter. Capital World Investors now owns 7,840,000 shares of the biotechnology company’s stock valued at $27,910,000 after buying an additional 6,600,000 shares during the period. Maverick Capital Ltd. boosted its stake in shares of Pacific Biosciences of California by 16.9% during the 2nd quarter. Maverick Capital Ltd. now owns 10,603,944 shares of the biotechnology company’s stock valued at $37,750,000 after buying an additional 1,530,070 shares during the period. Kennedy Capital Management Inc. boosted its stake in shares of Pacific Biosciences of California by 52.4% during the 2nd quarter. Kennedy Capital Management Inc. now owns 1,240,391 shares of the biotechnology company’s stock valued at $4,416,000 after buying an additional 426,269 shares during the period. Vanguard Group Inc. boosted its stake in shares of Pacific Biosciences of California by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock valued at $13,988,000 after buying an additional 283,216 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Pacific Biosciences of California by 120.4% during the 2nd quarter. California Public Employees Retirement System now owns 457,400 shares of the biotechnology company’s stock valued at $1,628,000 after buying an additional 249,900 shares during the period. 70.51% of the stock is 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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