Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $4.50 Average PT from Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $4.50.

PACB has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on Pacific Biosciences of California in a research report on Monday, June 3rd. They issued a “buy” rating and a $4.00 price target on the stock. Canaccord Genuity Group decreased their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Morgan Stanley lowered their price target on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Finally, Scotiabank lowered their target price on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 28th.

Pacific Biosciences of California Price Performance

Shares of PACB opened at $1.83 on Friday. The company has a market cap of $497.37 million, a P/E ratio of -1.60 and a beta of 2.03. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $10.65. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. The firm’s 50 day moving average price is $1.68 and its 200 day moving average price is $2.07.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $36.01 million during the quarter, compared to the consensus estimate of $40.52 million. Pacific Biosciences of California had a negative net margin of 211.99% and a negative return on equity of 40.98%. On average, research analysts forecast that Pacific Biosciences of California will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares in the company, valued at $2,707,152.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of Pacific Biosciences of California stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the transaction, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, the insider now directly owns 869,730 shares of the company’s stock, valued at $1,382,870.70. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Pacific Biosciences of California by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company’s stock worth $262,806,000 after purchasing an additional 3,514,792 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Pacific Biosciences of California by 955.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company’s stock worth $39,402,000 after buying an additional 9,511,787 shares during the last quarter. Bellevue Group AG lifted its stake in shares of Pacific Biosciences of California by 1.0% in the 4th quarter. Bellevue Group AG now owns 7,317,128 shares of the biotechnology company’s stock worth $71,781,000 after acquiring an additional 71,940 shares during the period. Decheng Capital LLC purchased a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at about $28,845,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Pacific Biosciences of California by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,966,837 shares of the biotechnology company’s stock worth $19,295,000 after acquiring an additional 127,855 shares during the period.

About Pacific Biosciences of California

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.