Shares of Pacific Biosciences of California (NASDAQ:PACB) have been given a consensus rating of “Hold” by the six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.27.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. CL King lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price for the company. in a research report on Thursday, September 28th. Finally, First Analysis lowered Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research report on Friday, November 3rd.

Shares of Pacific Biosciences of California (NASDAQ PACB) traded down $0.08 during midday trading on Tuesday, reaching $2.66. The company’s stock had a trading volume of 1,866,339 shares, compared to its average volume of 940,878. Pacific Biosciences of California has a 12-month low of $2.61 and a 12-month high of $5.74. 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 (NASDAQ:PACB) last issued its quarterly earnings data 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. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. The firm had revenue of $23.54 million during the quarter, compared to analyst estimates of $28.29 million. During the same quarter last year, the firm earned ($0.19) EPS. Pacific Biosciences of California’s quarterly revenue was down 6.3% on a year-over-year basis. equities analysts expect that Pacific Biosciences of California will post -0.88 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of PACB. HighTower Advisors LLC grew its position in shares of Pacific Biosciences of California by 35.1% in the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 7,225 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Pacific Biosciences of California by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 6,218 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Pacific Biosciences of California in the 2nd quarter worth approximately $155,000. Aperio Group LLC grew its position in shares of Pacific Biosciences of California by 105.5% in the 3rd quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 21,766 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Pacific Biosciences of California by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 5,145 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

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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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