Pacific Biosciences of California (NASDAQ:PACB) Downgraded to “Strong Sell” at ValuEngine
A number of other analysts have also recently weighed in on PACB. BidaskClub cut Pacific Biosciences of California from a hold rating to a sell rating in a research report on Tuesday, September 10th. Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the stock a hold rating in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $7.50.
NASDAQ PACB traded down $0.01 on Thursday, reaching $5.13. The stock had a trading volume of 410,140 shares, compared to its average volume of 1,618,812. The business has a 50 day moving average price of $5.37 and a 200 day moving average price of $6.23. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Pacific Biosciences of California has a 1 year low of $3.90 and a 1 year high of $7.84. The company has a market capitalization of $787.74 million, a price-to-earnings ratio of -6.75 and a beta of 1.76.
Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Pacific Biosciences of California in the second quarter worth about $28,000. Point72 Hong Kong Ltd acquired a new stake in shares of Pacific Biosciences of California in the second quarter worth about $37,000. FNY Investment Advisers LLC lifted its position in shares of Pacific Biosciences of California by 211.1% in the second quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock worth $67,000 after buying an additional 7,600 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Pacific Biosciences of California in the first quarter worth about $104,000. Finally, Bluefin Trading LLC acquired a new position in shares of Pacific Biosciences of California during the 2nd quarter worth about $91,000. 69.69% of the stock is owned by institutional investors.
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.
Featured Story: Futures Contract
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.