PACB FY2024 EPS Forecast Decreased by Cantor Fitzgerald

Pacific Biosciences of California, Inc. (NASDAQ:PACB) – Analysts at Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for Pacific Biosciences of California in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now anticipates that the biotechnology company will post earnings per share of ($1.31) for the year, down from their prior estimate of ($1.27). Cantor Fitzgerald currently has a “Overweight” rating and a $3.50 target price on the stock. The consensus estimate for Pacific Biosciences of California’s current full-year earnings is ($0.91) per share.

A number of other equities analysts have also commented on PACB. Canaccord Genuity Group lowered their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley cut their price target 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. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research note on Monday, November 11th. Scotiabank dropped their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. Finally, Piper Sandler increased 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, November 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.63.

Pacific Biosciences of California Stock Up 9.6 %

PACB stock opened at $1.72 on Monday. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $10.65. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The stock has a market capitalization of $471.05 million, a price-to-earnings ratio of -1.18 and a beta of 2.01. The business’s fifty day moving average price is $1.91 and its two-hundred day moving average price is $1.77.

Hedge Funds Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Pacific Biosciences of California during the first quarter worth $80,000. Swiss National Bank increased its holdings in Pacific Biosciences of California by 1.3% in the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after purchasing an additional 6,200 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Pacific Biosciences of California by 61.4% in the first quarter. Axxcess Wealth Management LLC now owns 35,175 shares of the biotechnology company’s stock valued at $132,000 after purchasing an additional 13,382 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Pacific Biosciences of California during the first quarter valued at about $64,000. Finally, EMC Capital Management grew its holdings in shares of Pacific Biosciences of California by 159.5% during the first quarter. EMC Capital Management now owns 32,700 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 20,100 shares during the last quarter.

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.