BidaskClub downgraded shares of Pacific Biosciences of California (NASDAQ:PACB) from a hold rating to a sell rating in a research report report published on Thursday.

Several other research analysts have also recently commented on the stock. Cowen cut shares of Pacific Biosciences of California from an outperform rating to a market perform rating in a report on Friday, January 4th. ValuEngine lowered shares of Pacific Biosciences of California from a strong-buy rating to a buy rating in a research report on Saturday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $5.64.

Shares of PACB opened at $7.36 on Thursday. Pacific Biosciences of California has a 12 month low of $2.02 and a 12 month high of $7.84. The firm has a market cap of $1.11 billion, a P/E ratio of -9.68 and a beta of 2.41. The company has a quick ratio of 4.23, a current ratio of 4.90 and a debt-to-equity ratio of 0.13.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Monday, February 11th. The biotechnology company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.08). Pacific Biosciences of California had a negative return on equity of 94.50% and a negative net margin of 130.44%. The business had revenue of $19.53 million for the quarter, compared to analyst estimates of $21.08 million. As a group, equities research analysts predict that Pacific Biosciences of California will post -0.56 EPS for the current year.

In other news, Director Kathy Ordonez sold 6,933 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $7.17, for a total value of $49,709.61. Following the transaction, the director now directly owns 63,700 shares of the company’s stock, valued at $456,729. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan K. Barnes sold 11,987 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $7.16, for a total transaction of $85,826.92. Following the completion of the transaction, the chief financial officer now directly owns 729,407 shares in the company, valued at $5,222,554.12. The disclosure for this sale can be found here. Insiders have sold 39,486 shares of company stock worth $283,261 over the last ninety days. Insiders own 13.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in Pacific Biosciences of California during the fourth quarter worth about $26,000. Hudock Capital Group LLC acquired a new stake in Pacific Biosciences of California during the 4th quarter worth approximately $29,000. Clean Yield Group acquired a new stake in Pacific Biosciences of California during the 4th quarter worth approximately $37,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Pacific Biosciences of California by 37.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,580 shares of the biotechnology company’s stock worth $71,000 after buying an additional 2,628 shares during the period. Finally, Prudential Financial Inc. boosted its position in Pacific Biosciences of California by 21.8% during the 4th quarter. Prudential Financial Inc. now owns 12,402 shares of the biotechnology company’s stock worth $92,000 after buying an additional 2,220 shares during the period. 67.70% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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