Stock analysts at UBS Group started coverage on shares of Pacific Biosciences of California (NASDAQ:PACB – Get Rating) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a "neutral" rating and a $13.00 price target on the biotechnology company's stock. UBS Group's price objective points to a potential upside of 12.26% from the stock's previous close.
PACB has been the subject of a number of other research reports. Scotiabank initiated coverage on shares of Pacific Biosciences of California in a research note on Wednesday, January 4th. They issued a "sector outperform" rating and a $12.00 price target for the company. Piper Sandler lifted their price objective on shares of Pacific Biosciences of California from $6.00 to $11.00 in a report on Wednesday, November 16th. Canaccord Genuity Group lifted their price objective on shares of Pacific Biosciences of California from $12.00 to $14.00 in a report on Wednesday, November 16th. Finally, Cantor Fitzgerald downgraded shares of Pacific Biosciences of California from an "overweight" rating to a "neutral" rating and set a $12.00 price objective for the company. in a report on Friday, January 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.71.
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Pacific Biosciences of California Stock Down 3.5 %
Shares of NASDAQ:PACB opened at $11.58 on Thursday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -8.64 and a beta of 1.67. The company has a quick ratio of 10.66, a current ratio of 11.19 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average of $9.92 and a two-hundred day moving average of $7.95. Pacific Biosciences of California has a 52-week low of $3.85 and a 52-week high of $14.20.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.03. The business had revenue of $32.31 million during the quarter, compared to analyst estimates of $35.30 million. Pacific Biosciences of California had a negative net
margin of 218.44% and a negative return on equity of 42.03%. As a group, analysts forecast that Pacific Biosciences of California will post -1.37 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Christian O. Henry sold 45,000 shares of the business's stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $10.84, for a total transaction of $487,800.00. Following the completion of the transaction, the insider now owns 643,551 shares of the company's stock, valued at $6,976,092.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Christian O. Henry sold 45,000 shares of Pacific Biosciences of California stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $10.84, for a total transaction of $487,800.00. Following the sale, the insider now directly owns 643,551 shares in the company, valued at $6,976,092.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Oene Mark Van sold 26,722 shares of Pacific Biosciences of California stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $9.53, for a total transaction of $254,660.66. Following the sale, the insider now owns 640,808 shares in the company, valued at $6,106,900.24. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.
Institutional Investors Weigh In On Pacific Biosciences of California
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Pacific Biosciences of California in the second quarter worth about $866,000. Trellus Management Company LLC raised its position in Pacific Biosciences of California by 37.5% in the third quarter. Trellus Management Company LLC now owns 110,000 shares of the biotechnology company's stock worth $639,000 after acquiring an additional 30,000 shares in the last quarter. Integrity Advisory LLC raised its holdings in Pacific Biosciences of California by 26.5% during the 2nd quarter. Integrity Advisory LLC now owns 14,262 shares of the biotechnology company's stock worth $63,000 after buying an additional 2,991 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Pacific Biosciences of California by 15.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,101 shares of the biotechnology company's stock worth $75,000 after buying an additional 2,347 shares during the period. Finally, Bourne Lent Asset Management Inc. raised its holdings in Pacific Biosciences of California by 4.5% during the 3rd quarter. Bourne Lent Asset Management Inc. now owns 584,150 shares of the biotechnology company's stock worth $3,391,000 after buying an additional 25,285 shares during the period. 92.88% of the stock is currently owned by institutional investors.
Pacific Biosciences of California Company Profile
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Pacific Biosciences of California, Inc engages in the development, manufacture, and marketing of advanced sequencing solutions for genetic analysis. It operates through the following geographical segments: North America, Europe, and Asia Pacific. The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.
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