StockNews.com Upgrades Pacific Biosciences of California (NASDAQ:PACB) to Sell

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

PACB has been the topic of a number of other reports. Barclays decreased their price target on Pacific Biosciences of California from $8.00 to $3.00 and set an equal weight rating on the stock in a research report on Wednesday, April 10th. TD Cowen decreased their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a buy rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their price target on Pacific Biosciences of California from $9.00 to $7.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Finally, UBS Group decreased their price target on Pacific Biosciences of California from $12.50 to $12.00 and set a buy rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $7.77.

Pacific Biosciences of California Stock Up 6.2 %

PACB stock opened at $1.55 on Wednesday. Pacific Biosciences of California has a 1-year low of $1.25 and a 1-year high of $14.55. The business’s 50 day moving average is $4.15 and its 200-day moving average is $6.61. The company has a current ratio of 7.81, a quick ratio of 7.21 and a debt-to-equity ratio of 1.27.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The company had revenue of $58.36 million for the quarter, compared to analyst estimates of $57.96 million. During the same period in the prior year, the company posted ($0.35) EPS. The company’s revenue was up 113.3% compared to the same quarter last year. On average, sell-side analysts expect that Pacific Biosciences of California will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the transaction, the insider now owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Oene Mark Van sold 33,560 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.96, for a total value of $200,017.60. Following the transaction, the insider now owns 876,611 shares of the company’s stock, valued at approximately $5,224,601.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David W. Meline purchased 40,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $4.40 per share, for a total transaction of $176,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at $176,000. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 37,359 shares of company stock valued at $218,843. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. acquired a new stake in Pacific Biosciences of California during the 1st quarter worth $98,000. Carret Asset Management LLC raised its stake in Pacific Biosciences of California by 52.4% during the 1st quarter. Carret Asset Management LLC now owns 32,000 shares of the biotechnology company’s stock worth $120,000 after buying an additional 11,000 shares during the period. Mirador Capital Partners LP raised its stake in Pacific Biosciences of California by 506.0% during the 1st quarter. Mirador Capital Partners LP now owns 318,373 shares of the biotechnology company’s stock worth $1,194,000 after buying an additional 265,835 shares during the period. SteelPeak Wealth LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter worth $355,000. Finally, Bourne Lent Asset Management Inc. raised its stake in Pacific Biosciences of California by 10.5% during the 1st quarter. Bourne Lent Asset Management Inc. now owns 654,415 shares of the biotechnology company’s stock worth $2,454,000 after buying an additional 62,200 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.