Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives $2.06 Average Price Target from Analysts

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been given a consensus rating of "Hold" by the nine analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $2.06.

PACB has been the subject of a number of analyst reports. Barclays dropped their price objective on Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Wednesday, June 25th. Scotiabank dropped their price target on Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research note on Tuesday, March 25th. Piper Sandler lowered 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. Stephens reissued 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. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $3.00 price target on shares of Pacific Biosciences of California in a research report on Thursday, April 10th.

Pacific Biosciences of California Stock Performance

NASDAQ PACB traded down $0.02 during trading on Thursday, hitting $1.37. 4,376,660 shares of the company's stock traded hands, compared to its average volume of 9,616,789. The stock has a market capitalization of $411.12 million, a price-to-earnings ratio of -0.49 and a beta of 2.16. Pacific Biosciences of California has a 12-month low of $0.85 and a 12-month high of $2.72. The company has a debt-to-equity ratio of 7.05, a quick ratio of 5.87 and a current ratio of 6.68. The business has a 50 day moving average of $1.22 and a 200-day moving average of $1.36.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $37.15 million for 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 business posted ($0.26) earnings per share. As a group, equities research analysts anticipate that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pacific Biosciences of California

Several hedge funds and other institutional investors have recently bought and sold shares of PACB. Charles Schwab Investment Management Inc. lifted its stake in shares of Pacific Biosciences of California by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,176,252 shares of the biotechnology company's stock worth $3,983,000 after acquiring an additional 135,949 shares in the last quarter. Raymond James Financial Inc. bought a new position in Pacific Biosciences of California during the 4th quarter valued at $253,000. Cibc World Markets Corp bought a new position in Pacific Biosciences of California during the 4th quarter valued at $47,000. Koss Olinger Consulting LLC boosted its stake in shares of Pacific Biosciences of California by 150.0% during the 4th quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company's stock worth $3,660,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Pacific Biosciences of California during the 4th quarter worth $75,000.

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.