Pacific Biosciences of California (NASDAQ:PACB) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

PACB has been the subject of several other reports. BidaskClub cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $8.00 target price on shares of Pacific Biosciences of California in a research note on Friday, May 3rd. Stephens lowered shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $4.50 to $8.00 in a report on Tuesday, April 2nd. Finally, Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $6.11.

PACB stock opened at $6.65 on Thursday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.75 and a beta of 2.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.50 and a quick ratio of 2.06. Pacific Biosciences of California has a one year low of $3.25 and a one year high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Friday, May 3rd. The biotechnology company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). The firm had revenue of $16.43 million during the quarter, compared to analysts’ expectations of $21.83 million. Pacific Biosciences of California had a negative return on equity of 102.01% and a negative net margin of 143.62%. As a group, sell-side analysts expect that Pacific Biosciences of California will post -0.61 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. boosted its holdings in shares of Pacific Biosciences of California by 11.5% in the 4th quarter. American International Group Inc. now owns 90,088 shares of the biotechnology company’s stock valued at $667,000 after purchasing an additional 9,265 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 valued at $71,000 after acquiring an additional 2,628 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Pacific Biosciences of California by 8.0% during the 3rd quarter. Teachers Advisors LLC now owns 230,404 shares of the biotechnology company’s stock valued at $1,246,000 after acquiring an additional 17,110 shares in the last quarter. Fairfax Financial Holdings Ltd Can acquired a new position in shares of Pacific Biosciences of California during the 4th quarter valued at $1,182,000. Finally, ARP Americas LP acquired a new position in shares of Pacific Biosciences of California during the 4th quarter valued at $7,507,000. Institutional investors own 71.51% of the company’s stock.

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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