Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) has earned an average recommendation of "Hold" from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $15.71.
A number of research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on Pacific Biosciences of California from $12.00 to $14.00 in a report on Wednesday, November 16th. Piper Sandler boosted their price target on Pacific Biosciences of California from $6.00 to $11.00 in a report on Wednesday, November 16th. Scotiabank assumed coverage on Pacific Biosciences of California in a report on Wednesday, January 4th. They issued a "sector outperform" rating and a $12.00 price target on the stock. UBS Group assumed coverage on Pacific Biosciences of California in a report on Thursday. They issued a "neutral" rating and a $13.00 price target on the stock. Finally, Cantor Fitzgerald cut Pacific Biosciences of California from an "overweight" rating to a "neutral" rating and set a $12.00 price target on the stock. in a report on Friday, January 20th. They noted that the move was a valuation call.
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Pacific Biosciences of California Stock Down 3.5 %
PACB stock opened at $11.58 on Friday. Pacific Biosciences of California has a twelve month low of $3.85 and a twelve month high of $14.20. 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 stock has a market cap of $2.62 billion, a P/E ratio of -8.64 and a beta of 1.67. The business's 50-day moving average price is $9.92 and its 200-day moving average price is $7.98.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last posted its quarterly earnings results on Monday, November 7th. The biotechnology company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.03. Pacific Biosciences of California had a negative return on equity of 42.03% and a negative net
margin of 218.44%. The company had revenue of $32.31 million for the quarter, compared to analysts' expectations of $35.30 million. On average, equities research analysts forecast that Pacific Biosciences of California will post -1.37 EPS for the current year.
Insider Transactions at Pacific Biosciences of California
In other news, insider Oene Mark Van sold 26,722 shares of the company's stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $9.53, for a total transaction of $254,660.66. Following the sale, the insider now directly owns 640,808 shares of the company's stock, valued at approximately $6,106,900.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Oene Mark Van sold 26,722 shares of the business's stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $9.53, for a total transaction of $254,660.66. Following the transaction, the insider now owns 640,808 shares of the company's stock, valued at approximately $6,106,900.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christian O. Henry sold 45,000 shares of the business's stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $10.84, for a total value of $487,800.00. Following the transaction, the insider now directly owns 643,551 shares in the company, valued at approximately $6,976,092.84. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.
Hedge Funds Weigh In On Pacific Biosciences of California
Several large investors have recently modified their holdings of the stock. Credit Suisse AG increased its position in shares of Pacific Biosciences of California by 0.5% during the 3rd quarter. Credit Suisse AG now owns 227,272 shares of the biotechnology company's stock valued at $1,319,000 after purchasing an additional 1,099 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Pacific Biosciences of California by 4.2% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 30,801 shares of the biotechnology company's stock valued at $252,000 after acquiring an additional 1,250 shares during the last quarter. Raymond James & Associates grew its position in Pacific Biosciences of California by 1.5% in the 3rd quarter. Raymond James & Associates now owns 95,090 shares of the biotechnology company's stock valued at $552,000 after acquiring an additional 1,365 shares during the last quarter. Arete Wealth Advisors LLC grew its position in Pacific Biosciences of California by 10.0% in the 3rd quarter. Arete Wealth Advisors LLC now owns 15,042 shares of the biotechnology company's stock valued at $87,000 after acquiring an additional 1,366 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Pacific Biosciences of California by 17.1% in the 3rd quarter. Ballentine Partners LLC now owns 11,916 shares of the biotechnology company's stock valued at $69,000 after acquiring an additional 1,737 shares during the last quarter. Institutional investors own 92.88% of the company's stock.
About Pacific Biosciences of California
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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.
Further Reading
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