Pacific Biosciences of California (NASDAQ:PACB) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a report issued on Friday.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group reduced their target price on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Scotiabank reduced their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th. Stephens reaffirmed an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday. Piper Sandler boosted their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus target price of $2.85.

Pacific Biosciences of California Stock Up 25.0 %

Shares of NASDAQ:PACB opened at $1.85 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The business has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.79. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $6.83.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. During the same quarter in the prior year, the business posted ($0.27) earnings per share. As a group, research analysts expect that Pacific Biosciences of California will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Trading of Pacific Biosciences of California

Several large investors have recently added to or reduced their stakes in PACB. FMR LLC grew its holdings in shares of Pacific Biosciences of California by 641.3% during the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after purchasing an additional 353,092 shares during the period. State Street Corp grew its holdings in shares of Pacific Biosciences of California by 5.7% during the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after purchasing an additional 340,766 shares during the period. Soros Fund Management LLC grew its holdings in shares of Pacific Biosciences of California by 23.6% during the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after purchasing an additional 400,000 shares during the period. Barclays PLC grew its holdings in shares of Pacific Biosciences of California by 143.0% during the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after purchasing an additional 350,196 shares during the period. Finally, Senvest Management LLC grew its holdings in shares of Pacific Biosciences of California by 36.1% during the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after purchasing an additional 290,000 shares during the period.

Pacific Biosciences of California Company Profile

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.