Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $4.50 Consensus Target Price from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB) has been assigned an average rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.63.

PACB has been the subject of several recent research reports. 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. Scotiabank reduced their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Finally, Piper Sandler boosted their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Monday.

Pacific Biosciences of California Price Performance

NASDAQ:PACB opened at $2.46 on Friday. The stock has a 50 day moving average of $1.88 and a two-hundred day moving average of $1.76. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $10.65. The firm has a market cap of $670.42 million, a P/E ratio of -1.68 and a beta of 2.01. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jeff Eidel sold 26,760 shares of Pacific Biosciences of California stock in a transaction that occurred on Monday, August 19th. The shares were 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 in the company, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the transaction, the insider now owns 1,630,815 shares in the company, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Pacific Biosciences of California by 100.3% during the 1st quarter. BNP Paribas Financial Markets now owns 1,167,708 shares of the biotechnology company’s stock valued at $4,379,000 after acquiring an additional 584,734 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Pacific Biosciences of California in the second quarter valued at approximately $719,000. Quantbot Technologies LP increased its stake in Pacific Biosciences of California by 330.4% during the 1st quarter. Quantbot Technologies LP now owns 88,834 shares of the biotechnology company’s stock worth $333,000 after buying an additional 68,195 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Pacific Biosciences of California during the 2nd quarter worth approximately $1,775,000. Finally, Cetera Advisors LLC purchased a new position in Pacific Biosciences of California in the 1st quarter valued at approximately $98,000.

About Pacific Biosciences of California

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.