Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been given an average rating of “Hold” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $2.0833.

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Wednesday, October 8th. Piper Sandler upped their price objective on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Barclays raised their price target on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Finally, Stephens upped their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th.

Pacific Biosciences of California Price Performance

Shares of PACB opened at $1.84 on Friday. Pacific Biosciences of California has a 1-year low of $0.85 and a 1-year high of $2.73. The company’s fifty day moving average price is $2.02 and its 200-day moving average price is $1.58. The company has a debt-to-equity ratio of 17.88, a current ratio of 6.24 and a quick ratio of 5.40. The firm has a market capitalization of $555.51 million, a PE ratio of -0.84 and a beta of 2.32.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $3.34 million during the quarter. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. On average, equities research analysts predict that Pacific Biosciences of California will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of large investors have recently bought and sold shares of PACB. Jump Financial LLC acquired a new stake in Pacific Biosciences of California in the 1st quarter valued at $25,000. Zacks Investment Management acquired a new stake in shares of Pacific Biosciences of California in the third quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Pacific Biosciences of California by 891.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 20,478 shares during the period. Russell Investments Group Ltd. acquired a new position in Pacific Biosciences of California during the 3rd quarter worth approximately $29,000. Finally, Cim Investment Management Inc. boosted its holdings in Pacific Biosciences of California by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 12,822 shares during the period.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.