Pacific Biosciences of California (NASDAQ:PACB) PT Lowered to $2.50

Pacific Biosciences of California (NASDAQ:PACB) had its target price decreased by equities research analysts at Sanford C. Bernstein from $9.00 to $2.50 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 61.29% from the company’s previous close.

PACB has been the topic of a number of other reports. TD Cowen dropped their price target on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group dropped their price target on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. The Goldman Sachs Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $2.50 in a research note on Thursday. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Wednesday. Finally, Barclays decreased their price objective on shares of Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.77.

Pacific Biosciences of California Trading Up 6.2 %

NASDAQ PACB opened at $1.55 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81. The firm has a market cap of $415.32 million, a PE ratio of -1.28 and a beta of 1.83. Pacific Biosciences of California has a one year low of $1.25 and a one year high of $14.55. The firm’s fifty day moving average is $4.15 and its two-hundred day moving average is $6.61.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The company had revenue of $58.36 million for the quarter, compared to analyst estimates of $57.96 million. During the same period in the previous year, the business posted ($0.35) earnings per share. Pacific Biosciences of California’s quarterly revenue was up 113.3% on a year-over-year basis. Analysts expect that Pacific Biosciences of California will post -1.01 earnings per share for the current year.

Insider Buying and Selling at Pacific Biosciences of California

In other news, Director David W. Meline acquired 40,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $176,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director David W. Meline purchased 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $176,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the transaction, the insider now directly owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Insiders have sold 37,359 shares of company stock valued at $218,843 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

Several large investors have recently made changes to their positions in PACB. Captrust Financial Advisors increased its position in shares of Pacific Biosciences of California by 217.2% in the second quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 4,220 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Pacific Biosciences of California in the second quarter worth $27,000. Comerica Bank acquired a new stake in shares of Pacific Biosciences of California in the third quarter worth $46,000. KBC Group NV acquired a new stake in shares of Pacific Biosciences of California in the fourth quarter worth $53,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Pacific Biosciences of California in the third quarter worth $59,000.

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.