Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Rating of “Hold” by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.00.

PACB has been the topic of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Wednesday, October 8th. Stephens upped their price target on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, Piper Sandler increased their price target on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th.

Pacific Biosciences of California Trading Down 2.3%

NASDAQ PACB opened at $2.12 on Friday. The company has a market cap of $640.05 million, a PE ratio of -0.96 and a beta of 2.32. The company has a current ratio of 6.24, a quick ratio of 5.40 and a debt-to-equity ratio of 17.88. Pacific Biosciences of California has a 12 month low of $0.85 and a 12 month high of $2.72. The stock has a 50 day moving average of $1.97 and a 200-day moving average of $1.54.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share for the quarter. Pacific Biosciences of California had a negative return on equity of 101.49% and a negative net margin of 325.02%.The firm had revenue of $3.34 million for the quarter. On average, equities research analysts anticipate that Pacific Biosciences of California will post -0.72 EPS for the current fiscal year.

Institutional Trading of Pacific Biosciences of California

Several institutional investors have recently added to or reduced their stakes in PACB. Intech Investment Management LLC grew its holdings in Pacific Biosciences of California by 5.2% in the 3rd quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock valued at $169,000 after buying an additional 6,564 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Pacific Biosciences of California by 2.1% in the third quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock valued at $532,000 after acquiring an additional 8,532 shares in the last quarter. Cetera Investment Advisers increased its position in Pacific Biosciences of California by 10.1% during the second quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 9,617 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Pacific Biosciences of California by 47.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 9,739 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Pacific Biosciences of California by 6.5% in the 3rd quarter. Raymond James Financial Inc. now owns 161,865 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 9,896 shares in the last quarter.

About Pacific Biosciences of California

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.