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

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $2.0833.

PACB has been the subject of a number of recent research reports. Piper Sandler boosted their price target on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Thursday, January 22nd. Stephens raised their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, Barclays upped their price objective on Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Monday, December 15th.

Pacific Biosciences of California Trading Down 4.6%

Shares of PACB opened at $2.26 on Monday. The stock’s fifty day simple moving average is $2.18 and its 200-day simple moving average is $1.75. The firm has a market capitalization of $682.32 million, a PE ratio of -1.03 and a beta of 2.26. Pacific Biosciences of California has a 12-month low of $0.85 and a 12-month high of $2.73. The company has a quick ratio of 5.40, a current ratio of 6.24 and a debt-to-equity ratio of 17.88.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. 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 $38.44 million during the quarter, compared to analysts’ expectations of $40.25 million. As a group, research analysts predict that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC boosted 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 purchasing an additional 6,564 shares during the period. Rhumbline Advisers boosted 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 buying an additional 8,532 shares during the period. Green Alpha Advisors LLC grew its position in Pacific Biosciences of California by 5.4% during the fourth quarter. Green Alpha Advisors LLC now owns 183,466 shares of the biotechnology company’s stock worth $343,000 after buying an additional 9,441 shares in the last quarter. Mirador Capital Partners LP grew its position in Pacific Biosciences of California by 1.7% during the fourth quarter. Mirador Capital Partners LP now owns 591,005 shares of the biotechnology company’s stock worth $1,105,000 after buying an additional 9,612 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Pacific Biosciences of California by 10.1% during the 2nd 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.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.