Pacific Biosciences of California’s (PACB) “Overweight” Rating Reaffirmed at Stephens

Pacific Biosciences of California (NASDAQ:PACB)‘s stock had its “overweight” rating reissued by equities research analysts at Stephens in a report released on Friday,Benzinga reports. They currently have a $2.50 price objective on the biotechnology company’s stock. Stephens’ price objective indicates a potential upside of 46.80% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Scotiabank cut their target price 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 shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. Piper Sandler lifted their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lowered their price objective on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.85.

Pacific Biosciences of California Stock Up 15.1 %

NASDAQ:PACB traded up $0.22 during trading hours on Friday, reaching $1.70. The company had a trading volume of 26,613,473 shares, compared to its average volume of 11,797,705. The business’s 50-day simple moving average is $1.81 and its two-hundred day simple moving average is $1.80. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $6.83. The firm has a market cap of $466.38 million, a price-to-earnings ratio of -1.17 and a beta of 1.92. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.71% and a negative net margin of 227.69%. During the same period last year, the business posted ($0.27) earnings per share. On average, equities analysts expect that Pacific Biosciences of California will post -0.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently bought and sold shares of PACB. FMR LLC lifted its position in shares of Pacific Biosciences of California by 641.3% during the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after buying an additional 353,092 shares during the last quarter. State Street Corp lifted its holdings in Pacific Biosciences of California by 5.7% during the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock valued at $10,669,000 after purchasing an additional 340,766 shares during the last quarter. Soros Fund Management LLC boosted its position in Pacific Biosciences of California by 23.6% during the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after purchasing an additional 400,000 shares during the period. Barclays PLC increased its stake in shares of Pacific Biosciences of California by 143.0% in the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after purchasing an additional 350,196 shares in the last quarter. Finally, Senvest Management LLC raised its position in shares of Pacific Biosciences of California by 36.1% in the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock valued at $1,860,000 after purchasing an additional 290,000 shares during the period.

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.