Pacific Biosciences of California (NASDAQ:PACB) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Several other brokerages have also recently weighed in on PACB. CL King cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a report on Thursday, September 28th. First Analysis cut Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.27.

Pacific Biosciences of California (PACB) opened at $2.72 on Friday. The firm has a market capitalization of $316.20, a price-to-earnings ratio of -2.99 and a beta of 1.75. The company has a quick ratio of 3.15, a current ratio of 3.75 and a debt-to-equity ratio of 0.10. Pacific Biosciences of California has a fifty-two week low of $2.51 and a fifty-two week high of $5.74.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $23.54 million during the quarter, compared to analysts’ expectations of $28.29 million. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. equities research analysts anticipate that Pacific Biosciences of California will post -0.9 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC raised 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. Voya Investment Management LLC raised 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 acquired a new position in shares of Pacific Biosciences of California during the 2nd quarter worth $155,000. Aperio Group LLC raised 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. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Pacific Biosciences of California by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after buying an additional 5,145 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

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Pacific Biosciences of California Company Profile

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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