ValuEngine cut shares of Pacific Biosciences of California (NASDAQ:PACB) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.

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.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). Pacific Biosciences of California had a negative return on equity of 106.36% and a negative net margin of 140.68%. The company had revenue of $24.62 million during the quarter, compared to analysts’ expectations of $22.27 million. On average, analysts anticipate that Pacific Biosciences of California will post -0.64 earnings per share for the current fiscal year.

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.

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