Pacific Biosciences of California (NASDAQ:PACB) Stock Price Expected to Rise, Barclays Analyst Says

Pacific Biosciences of California (NASDAQ:PACB) had its target price increased by stock analysts at Barclays from $1.50 to $2.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s price objective would suggest a potential downside of 0.99% from the company’s current price.

Several other equities research analysts have also commented on PACB. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Stephens lifted their price objective on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Finally, Piper Sandler boosted their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.08.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $2.02 on Monday. The company has a debt-to-equity ratio of 17.88, a quick ratio of 5.40 and a current ratio of 6.24. Pacific Biosciences of California has a one year low of $0.85 and a one year high of $2.72. The company has a market cap of $609.86 million, a P/E ratio of -0.92 and a beta of 2.32. The business has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.56.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, March 29th. The biotechnology company reported ($0.23) EPS for the quarter. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. The company had revenue of $3.34 million during the quarter. As a group, analysts predict that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Pacific Biosciences of California

A number of large investors have recently made changes to their positions in the stock. Nuveen LLC purchased a new position in Pacific Biosciences of California in the 1st quarter valued at about $319,000. Amiral Gestion acquired a new position in shares of Pacific Biosciences of California in the second quarter valued at approximately $3,208,000. Invesco Ltd. raised its position in shares of Pacific Biosciences of California by 100.6% in the first quarter. Invesco Ltd. now owns 524,643 shares of the biotechnology company’s stock valued at $619,000 after buying an additional 263,067 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Pacific Biosciences of California by 6.4% during the second quarter. Geode Capital Management LLC now owns 6,718,879 shares of the biotechnology company’s stock valued at $8,333,000 after buying an additional 401,637 shares during the period. Finally, XTX Topco Ltd boosted its position in Pacific Biosciences of California by 95.5% during the second quarter. XTX Topco Ltd now owns 954,596 shares of the biotechnology company’s stock worth $1,184,000 after acquiring an additional 466,359 shares during the last quarter.

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.