Pacific Biosciences of California (NASDAQ:PACB) Lifted to Sell at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research note published on Wednesday.

PACB has been the subject of a number of other reports. Sanford C. Bernstein reduced their target price on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an outperform rating for the company in a report on Thursday, April 18th. Scotiabank reduced their target price on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a sector outperform rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. lowered shares of Pacific Biosciences of California from an overweight rating to a neutral rating in a research report on Monday, April 22nd. The Goldman Sachs Group lowered shares of Pacific Biosciences of California from a buy rating to a neutral rating and dropped their price target for the stock from $7.00 to $2.50 in a research report on Thursday, April 18th. Finally, Piper Sandler dropped their price target on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a neutral rating for the company in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Pacific Biosciences of California currently has an average rating of Hold and an average price target of $6.38.

Pacific Biosciences of California Stock Up 0.7 %

PACB opened at $1.37 on Wednesday. The company has a quick ratio of 8.36, a current ratio of 9.28 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average price of $1.76 and a 200-day moving average price of $4.51. Pacific Biosciences of California has a twelve month low of $1.25 and a twelve month high of $14.55. The stock has a market capitalization of $373.13 million, a price-to-earnings ratio of -1.20 and a beta of 2.01.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The business had revenue of $38.81 million during the quarter, compared to analysts’ expectations of $38.78 million. Equities research analysts forecast that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On Pacific Biosciences of California

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in shares of Pacific Biosciences of California during the first quarter worth $32,000. Private Wealth Partners LLC bought a new position in Pacific Biosciences of California during the fourth quarter valued at $98,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Pacific Biosciences of California during the first quarter valued at $38,000. Quest Partners LLC bought a new position in Pacific Biosciences of California during the fourth quarter valued at $168,000. Finally, Kennedy Capital Management LLC bought a new position in Pacific Biosciences of California during the first quarter valued at $64,000.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.