Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $2.95 Consensus Target Price from Analysts

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $2.95.

Several analysts have recently commented on the stock. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday, November 11th. Scotiabank lowered their price target 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 boosted their price objective on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th.

Hedge Funds Weigh In On Pacific Biosciences of California

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its stake in shares of Pacific Biosciences of California by 0.6% in the third quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock valued at $56,791,000 after acquiring an additional 193,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in Pacific Biosciences of California by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock worth $10,759,000 after purchasing an additional 225,034 shares during the period. State Street Corp raised its position in Pacific Biosciences of California by 5.7% in the 3rd 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 in the last quarter. Soros Fund Management LLC boosted its stake in shares of Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after buying an additional 400,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Pacific Biosciences of California by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock worth $3,469,000 after buying an additional 82,807 shares in the last quarter.

Pacific Biosciences of California Price Performance

Shares of PACB stock opened at $1.99 on Friday. 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 company has a market capitalization of $544.99 million, a PE ratio of -1.36 and a beta of 1.95. The firm’s 50-day moving average is $2.00 and its two-hundred day moving average is $1.77. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $9.51.

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.