The Goldman Sachs Group Lowers Pacific Biosciences of California (NASDAQ:PACB) Price Target to $1.50

Pacific Biosciences of California (NASDAQ:PACB) had its price target cut by stock analysts at The Goldman Sachs Group from $1.75 to $1.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 19.79% from the stock’s current price.

A number of other equities analysts also recently commented on PACB. Piper Sandler raised their price objective 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. Scotiabank cut their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a report on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Friday. Finally, Stephens restated an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.83.

Pacific Biosciences of California Trading Up 1.1 %

NASDAQ PACB traded up $0.02 during trading hours on Tuesday, hitting $1.87. 19,673,516 shares of the company’s stock were exchanged, compared to its average volume of 12,667,806. The business’s 50 day moving average is $1.80 and its 200-day moving average is $1.79. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $6.09. The firm has a market capitalization of $512.12 million, a P/E ratio of -1.28 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. The firm had revenue of $39.22 million for the quarter, compared to the consensus estimate of $39.20 million. During the same period in the prior year, the business posted ($0.27) earnings per share. As a group, analysts anticipate that Pacific Biosciences of California will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pacific Biosciences of California

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pacific Biosciences of California by 7.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 551,904 shares of the biotechnology company’s stock worth $1,010,000 after purchasing an additional 38,103 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Pacific Biosciences of California by 19.8% in the 4th quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company’s stock valued at $307,000 after acquiring an additional 27,800 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Pacific Biosciences of California by 139.4% in the 4th quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company’s stock valued at $2,038,000 after acquiring an additional 648,407 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at approximately $1,556,000. Finally, Softbank Group CORP. bought a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at approximately $37,426,000.

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.