Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) hit a new 52-week low during trading on Friday . The company traded as low as $2.98 and last traded at $0.00, with a volume of shares traded.

A number of brokerages have commented on PACB. CL King cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price target for the company. in a research report on Thursday, September 28th. BidaskClub cut Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research cut Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, First Analysis cut Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $6.27.

The company has a quick ratio of 3.24, a current ratio of 3.72 and a debt-to-equity ratio of 0.09.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $23.54 million during the quarter, compared to the consensus estimate of $28.29 million. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 100.62%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) EPS. equities analysts expect that Pacific Biosciences of California, Inc. will post -0.89 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC boosted its holdings in shares of Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after buying an additional 7,225 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $116,000. Voya Investment Management LLC boosted its holdings in shares of Pacific Biosciences of California by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after buying an additional 6,218 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Pacific Biosciences of California during the 2nd quarter worth approximately $155,000. Finally, Aperio Group LLC boosted its holdings in shares of Pacific Biosciences of California by 105.5% during the 3rd quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after buying an additional 21,766 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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