Pacific Biosciences of California (NASDAQ:PACB) Given New $1.50 Price Target at Barclays

Pacific Biosciences of California (NASDAQ:PACB) had its price target reduced by Barclays from $2.00 to $1.50 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a “neutral” rating for the company in a report on Thursday, May 15th. Stephens restated an “overweight” rating and issued a $1.80 price objective on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Canaccord Genuity Group restated a “buy” rating and issued a $3.00 price objective on shares of Pacific Biosciences of California in a report on Thursday, April 10th. Finally, Scotiabank lowered their price target on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating for the company in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.06.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $1.22 on Wednesday. The company’s 50 day simple moving average is $1.12 and its 200-day simple moving average is $1.43. The company has a market capitalization of $366.10 million, a price-to-earnings ratio of -0.44 and a beta of 2.10. Pacific Biosciences of California has a 1 year low of $0.85 and a 1 year high of $2.72. The company has a debt-to-equity ratio of 7.05, a quick ratio of 5.87 and a current ratio of 6.68.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $37.15 million for the quarter, compared to the consensus estimate of $36.90 million. Pacific Biosciences of California had a negative net margin of 430.93% and a negative return on equity of 52.07%. During the same period in the previous year, the firm earned ($0.26) EPS. As a group, equities research analysts expect that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Pacific Biosciences of California

Large investors have recently made changes to their positions in the stock. Jump Financial LLC acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter worth approximately $25,000. Sandbox Financial Partners LLC acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth about $32,000. Hartline Investment Corp acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth about $37,000. First Trust Advisors LP acquired a new stake in shares of Pacific Biosciences of California during the 4th quarter worth about $42,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Pacific Biosciences of California in the fourth quarter worth approximately $43,000.

Pacific Biosciences of California Company Profile

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.