Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $1.71 Average PT from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has earned an average recommendation of “Reduce” from the six research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $1.7125.

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. UBS Group started coverage on shares of Pacific Biosciences of California in a research note on Wednesday, September 9th. They set a “neutral” rating and a $1.35 target price for the company. Finally, Weiss Ratings upgraded shares of Pacific Biosciences of California from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th.

Pacific Biosciences of California Trading Down 0.7%

Shares of PACB stock opened at $1.36 on Tuesday. The company has a market capitalization of $422.73 million, a price-to-earnings ratio of -3.16 and a beta of 2.31. Pacific Biosciences of California has a 1-year low of $1.07 and a 1-year high of $2.73. The stock’s fifty day simple moving average is $1.34 and its 200-day simple moving average is $1.41.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Monday, August 3rd. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $39.01 million for the quarter, compared to analyst estimates of $42.90 million. Pacific Biosciences of California had a negative return on equity of 5,752.12% and a negative net margin of 82.49%. On average, sell-side analysts predict that Pacific Biosciences of California will post -0.52 EPS for the current year.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Mark Van Oene sold 26,911 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1.13, for a total transaction of $30,409.43. Following the transaction, the insider owned 2,705,853 shares in the company, valued at $3,057,613.89. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PACB. BlackRock Inc. acquired a new stake in shares of Pacific Biosciences of California in the second quarter valued at about $54,330,000. Casdin Capital LLC lifted its position in shares of Pacific Biosciences of California by 483.6% during the 4th quarter. Casdin Capital LLC now owns 4,223,767 shares of the biotechnology company’s stock worth $7,898,000 after purchasing an additional 3,500,000 shares during the last quarter. UBS Group AG lifted its position in shares of Pacific Biosciences of California by 111.8% during the 4th quarter. UBS Group AG now owns 3,171,546 shares of the biotechnology company’s stock worth $5,931,000 after purchasing an additional 1,674,320 shares during the last quarter. Bank of America Corp DE bought a new stake in Pacific Biosciences of California during the 2nd quarter valued at approximately $2,265,000. Finally, Hhlr Advisors LTD. bought a new stake in Pacific Biosciences of California during the 2nd quarter valued at approximately $1,544,000.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc (NASDAQ: PACB) develops and commercializes life-science technologies for DNA sequencing. The company is best known for its Single Molecule, Real-Time (SMRT) sequencing platform, which produces highly accurate, long-read sequencing data used to study genomes, transcriptomes and other biological systems.

PacBio’s product portfolio includes the Revio and Sequel IIe long-read sequencing systems, associated consumables and sample-preparation solutions, and software for data analysis and interpretation.