Pacific Biosciences of California (NASDAQ:PACB) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

A number of other brokerages also recently commented on PACB. Piper Jaffray Companies reiterated a “hold” rating and issued a $3.80 price objective on shares of Pacific Biosciences of California in a research report on Friday, August 3rd. Zacks Investment Research downgraded Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Cantor Fitzgerald initiated coverage on Pacific Biosciences of California in a research report on Wednesday, August 8th. They set an “overweight” rating and a $5.00 target price for the company. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Pacific Biosciences of California presently has an average rating of “Hold” and an average target price of $4.77.

Shares of PACB stock opened at $4.99 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 4.33 and a debt-to-equity ratio of 0.17. Pacific Biosciences of California has a 12 month low of $2.02 and a 12 month high of $5.70. The company has a market capitalization of $658.39 million, a price-to-earnings ratio of -5.74 and a beta of 2.25.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.17) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.17). Pacific Biosciences of California had a negative return on equity of 95.29% and a negative net margin of 100.09%. The company had revenue of $21.58 million during the quarter, compared to the consensus estimate of $24.45 million. During the same quarter last year, the company earned ($0.26) EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis. equities research analysts forecast that Pacific Biosciences of California will post -0.67 EPS for the current year.

Several institutional investors have recently bought and sold shares of PACB. Aperio Group LLC lifted its position in shares of Pacific Biosciences of California by 76.8% during the 1st quarter. Aperio Group LLC now owns 50,120 shares of the biotechnology company’s stock worth $103,000 after buying an additional 21,775 shares during the period. MetLife Investment Advisors LLC lifted its position in shares of Pacific Biosciences of California by 343.5% during the 1st quarter. MetLife Investment Advisors LLC now owns 58,747 shares of the biotechnology company’s stock worth $120,000 after buying an additional 45,502 shares during the period. Renaissance Technologies LLC bought a new position in shares of Pacific Biosciences of California during the 4th quarter worth approximately $301,000. Compagnie Lombard Odier SCmA lifted its position in shares of Pacific Biosciences of California by 20.0% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 180,000 shares of the biotechnology company’s stock worth $366,000 after buying an additional 30,000 shares during the period. Finally, Swiss National Bank lifted its position in shares of Pacific Biosciences of California by 13.4% during the 1st quarter. Swiss National Bank now owns 191,246 shares of the biotechnology company’s stock worth $392,000 after buying an additional 22,600 shares during the period. Institutional investors and hedge funds own 70.59% 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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