Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $1.83 Average Target Price from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given a consensus rating of “Reduce” by the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $1.8333.

A number of equities analysts have commented on PACB shares. Barclays upped their target price on shares of Pacific Biosciences of California from $1.00 to $1.50 and gave the company an “underweight” rating in a research note on Monday, May 11th. Zacks Research downgraded shares of Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Tuesday, April 21st.

Pacific Biosciences of California Stock Down 1.5%

Shares of PACB opened at $1.35 on Friday. The firm has a market cap of $419.31 million, a PE ratio of -3.14 and a beta of 2.35. The company’s fifty day moving average is $1.44 and its two-hundred day moving average is $1.74. Pacific Biosciences of California has a fifty-two week low of $1.09 and a fifty-two week high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.05. Pacific Biosciences of California had a negative net margin of 80.35% and a negative return on equity of 571.06%. The business had revenue of $37.18 million for the quarter, compared to analyst estimates of $39.94 million. As a group, equities research analysts anticipate that Pacific Biosciences of California will post -0.5 earnings per share for the current year.

Institutional Trading of Pacific Biosciences of California

A number of institutional investors have recently made changes to their positions in PACB. Creative Planning boosted its holdings in Pacific Biosciences of California by 245.9% during the second quarter. Creative Planning now owns 175,690 shares of the biotechnology company’s stock worth $218,000 after buying an additional 124,893 shares in the last quarter. Cetera Investment Advisers boosted its holdings 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 buying an additional 9,617 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Pacific Biosciences of California by 73.0% during the second quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company’s stock worth $44,000 after buying an additional 15,062 shares in the last quarter. Invesco Ltd. boosted its holdings in Pacific Biosciences of California by 60.0% during the second quarter. Invesco Ltd. now owns 839,340 shares of the biotechnology company’s stock worth $1,041,000 after buying an additional 314,697 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new stake in Pacific Biosciences of California during the second quarter worth approximately $77,000.

Pacific Biosciences of California Company Profile

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.