Pacific Biosciences of California (NASDAQ:PACB) Lifted to "Sell" at StockNews.com

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a report issued on Tuesday.

Other analysts also recently issued reports about the stock. Barclays dropped their price objective on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an "equal weight" rating for the company in a report on Friday. UBS Group decreased their target price on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a "buy" rating on the stock in a research report on Friday, February 16th. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 18th. Piper Sandler decreased their target price on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, TD Cowen decreased their target price on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a "buy" rating on the stock in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Pacific Biosciences of California currently has an average rating of "Hold" and an average price target of $7.14.

Pacific Biosciences of California Price Performance

NASDAQ:PACB traded up $0.30 during trading hours on Tuesday, hitting $2.23. The stock had a trading volume of 26,339,169 shares, compared to its average volume of 10,239,212. The company has a 50 day simple moving average of $2.84 and a two-hundred day simple moving average of $5.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36. Pacific Biosciences of California has a one year low of $1.25 and a one year high of $14.55. The firm has a market capitalization of $607.36 million, a price-to-earnings ratio of -1.96 and a beta of 1.99.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The firm had revenue of $38.81 million during the quarter, compared to the consensus estimate of $38.78 million. Research analysts forecast that Pacific Biosciences of California will post -1 earnings per share for the current fiscal year.

Insider Transactions at Pacific Biosciences of California

In related news, Director David W. Meline acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $176,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the sale, the insider now directly owns 876,611 shares of the company's stock, valued at $5,224,601.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David W. Meline acquired 40,000 shares of Pacific Biosciences of California stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $4.40 per share, with a total value of $176,000.00. Following the completion of the purchase, the director now owns 40,000 shares of the company's stock, valued at $176,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 37,359 shares of company stock worth $218,843. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Interchange Capital Partners LLC increased its stake in shares of Pacific Biosciences of California by 11.9% in the fourth quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company's stock worth $184,000 after purchasing an additional 1,991 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Pacific Biosciences of California by 11.4% during the third quarter. Private Advisor Group LLC now owns 19,740 shares of the biotechnology company's stock worth $165,000 after acquiring an additional 2,027 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Pacific Biosciences of California by 0.5% during the fourth quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company's stock worth $5,719,000 after acquiring an additional 2,832 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pacific Biosciences of California by 6.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,886 shares of the biotechnology company's stock worth $492,000 after acquiring an additional 3,391 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of Pacific Biosciences of California by 23.6% during the third quarter. Axxcess Wealth Management LLC now owns 18,280 shares of the biotechnology company's stock worth $153,000 after acquiring an additional 3,494 shares during the last quarter.

About Pacific Biosciences of California

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.

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