Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.50.

PACB has been the topic of several recent research reports. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group initiated coverage on Pacific Biosciences of California in a research report on Monday, June 3rd. They set a “buy” rating and a $4.00 target price on the stock. Finally, Scotiabank decreased their price target on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a research report on Wednesday, August 28th.

Insider Buying and Selling at Pacific Biosciences of California

In related news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, the insider now directly owns 869,730 shares in the company, valued at $1,382,870.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the sale, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the transaction, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of large investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Pacific Biosciences of California in the first quarter worth about $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Pacific Biosciences of California in the 1st quarter worth approximately $38,000. Quest Partners LLC bought a new stake in Pacific Biosciences of California during the fourth quarter worth approximately $168,000. Kennedy Capital Management LLC bought a new stake in Pacific Biosciences of California during the first quarter worth approximately $64,000. Finally, Virtu Financial LLC acquired a new position in Pacific Biosciences of California during the fourth quarter valued at approximately $177,000.

Pacific Biosciences of California Stock Performance

PACB opened at $1.74 on Friday. The business has a 50 day moving average price of $1.66 and a two-hundred day moving average price of $2.03. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14. The company has a market capitalization of $474.20 million, a price-to-earnings ratio of -1.53 and a beta of 2.03. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. The business had revenue of $36.01 million during the quarter, compared to analysts’ expectations of $40.52 million. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. Research analysts predict that Pacific Biosciences of California will post -0.95 EPS for the current fiscal year.

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.