Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Rating of “Moderate Buy” by Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $2.79.

A number of brokerages recently weighed in on PACB. Stephens reissued an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a report on Friday, February 14th. The Goldman Sachs Group decreased their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Piper Sandler restated a “neutral” rating and issued a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th.

Pacific Biosciences of California Price Performance

Shares of NASDAQ:PACB opened at $1.22 on Friday. The company’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.78. 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 firm has a market capitalization of $334.11 million, a price-to-earnings ratio of -0.74 and a beta of 1.86. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $4.10.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. The business had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. On average, equities research analysts anticipate that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares in the company, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PCA Investment Advisory Services Inc. increased its position in shares of Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Atom Investors LP bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at approximately $30,000. Atria Investments Inc grew its holdings in shares of Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 10,138 shares during the period. Centiva Capital LP bought a new position in shares of Pacific Biosciences of California in the 3rd quarter worth approximately $40,000. Finally, First Trust Advisors LP bought a new position in shares of Pacific Biosciences of California in the 4th quarter worth approximately $42,000.

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.