Pacific Biosciences of California (NASDAQ:PACB) Stock Price Up 4.5%

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) traded up 4.5% during mid-day trading on Thursday . The stock traded as high as $3.53 and last traded at $3.51. 541,111 shares traded hands during trading, a decline of 94% from the average session volume of 8,612,433 shares. The stock had previously closed at $3.36.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a "buy" rating for the company in a report on Friday, February 16th. Wolfe Research began coverage on shares of Pacific Biosciences of California in a report on Wednesday, December 13th. They issued a "peer perform" rating for the company. Stephens began coverage on shares of Pacific Biosciences of California in a report on Thursday, December 14th. They issued an "overweight" rating and a $11.00 price objective for the company. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a report on Wednesday, March 20th. Finally, Guggenheim began coverage on shares of Pacific Biosciences of California in a report on Thursday, December 14th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Pacific Biosciences of California presently has an average rating of "Hold" and a consensus target price of $11.56.

Pacific Biosciences of California Stock Performance

The firm has a market capitalization of $892.27 million, a PE ratio of -2.86 and a beta of 1.83. The company has a current ratio of 7.81, a quick ratio of 7.21 and a debt-to-equity ratio of 1.27. The business's 50 day simple moving average is $5.13 and its two-hundred day simple moving average is $7.10.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.02. The business had revenue of $58.36 million during the quarter, compared to analyst estimates of $57.96 million. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The company's quarterly revenue was up 113.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) EPS. Research analysts expect that Pacific Biosciences of California, Inc. will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 31,012 shares of the business's stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $7.77, for a total transaction of $240,963.24. Following the completion of the sale, the insider now directly owns 910,171 shares in the company, valued at approximately $7,072,028.67. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Pacific Biosciences of California news, Director David W. Meline acquired 40,000 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $4.40 per share, with a total value of $176,000.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $176,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Oene Mark Van sold 31,012 shares of the business's stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $7.77, for a total transaction of $240,963.24. Following the sale, the insider now directly owns 910,171 shares of the company's stock, valued at approximately $7,072,028.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,371 shares of company stock worth $459,806. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of hedge funds have recently modified their holdings of the business. Fairfield Bush & CO. bought a new position in Pacific Biosciences of California in the 2nd quarter worth $27,000. Captrust Financial Advisors boosted its holdings in Pacific Biosciences of California by 217.2% in the 2nd quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company's stock worth $27,000 after buying an additional 4,220 shares during the period. Comerica Bank bought a new position in Pacific Biosciences of California in the 3rd quarter worth $46,000. KBC Group NV bought a new position in Pacific Biosciences of California in the 4th quarter worth $53,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Pacific Biosciences of California in the 3rd quarter worth $59,000.

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.