Barclays Cuts Pacific Biosciences of California (NASDAQ:PACB) Price Target to $1.50

Pacific Biosciences of California (NASDAQ:PACB - Free Report) had its target price cut by Barclays from $2.00 to $1.50 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the biotechnology company's stock.

Several other research analysts have also recently weighed in on the company. Stephens reaffirmed an "overweight" rating and set a $1.80 price objective on shares of Pacific Biosciences of California in a research report on Thursday, May 15th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $3.00 price objective on shares of Pacific Biosciences of California in a research report on Thursday, April 10th. Piper Sandler reduced their price objective on Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Wall Street Zen raised Pacific Biosciences of California to a "sell" rating in a research report on Tuesday, February 25th. Finally, Scotiabank reduced their price objective on Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $2.06.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB remained flat at $1.29 on Wednesday. The company's stock had a trading volume of 13,877,768 shares, compared to its average volume of 9,786,645. Pacific Biosciences of California has a 1 year low of $0.85 and a 1 year high of $2.72. The company has a current ratio of 6.68, a quick ratio of 5.87 and a debt-to-equity ratio of 7.05. The stock has a market cap of $387.10 million, a price-to-earnings ratio of -0.46 and a beta of 2.10. The stock's fifty day moving average price is $1.12 and its 200-day moving average price is $1.41.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $37.15 million during the quarter, compared to analysts' expectations of $36.90 million. Pacific Biosciences of California had a negative return on equity of 52.07% and a negative net margin of 430.93%. During the same period in the prior year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts expect that Pacific Biosciences of California will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jump Financial LLC bought a new stake in Pacific Biosciences of California in the first quarter valued at approximately $25,000. Sandbox Financial Partners LLC bought a new stake in Pacific Biosciences of California in the first quarter valued at approximately $32,000. Hartline Investment Corp bought a new stake in Pacific Biosciences of California in the first quarter valued at approximately $37,000. First Trust Advisors LP bought a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $42,000. Finally, Boothbay Fund Management LLC bought a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $43,000.

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.