Pacific Biosciences of California, Inc. (NASDAQ:PACB) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Pacific Biosciences of California, Inc. (NASDAQ:PACB) received an average analyst rating of "Hold," with four analysts recommending a hold and three issuing buy ratings.
• The company's stock price target varies among analysts, with estimates ranging from $1.50 to $1.90.
• Pacific Biosciences reported a quarterly earnings per share of -$0.13, beating estimates, along with revenues of $39.77 million, exceeding analyst expectations.

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been given an average rating of "Hold" by the seven analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $1.90.

Several brokerages have recently weighed in on PACB. Piper Sandler increased their price target on Pacific Biosciences of California from $1.25 to $1.50 and gave the company a "neutral" rating in a research note on Monday, August 11th. Wall Street Zen raised Pacific Biosciences of California from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays decreased their price target 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. Finally, Stephens reissued an "overweight" rating and issued a $1.80 price target on shares of Pacific Biosciences of California in a research note on Thursday, May 15th.

Pacific Biosciences of California Price Performance

PACB traded down $0.04 on Friday, reaching $1.28. The stock had a trading volume of 941,580 shares, compared to its average volume of 9,364,350. Pacific Biosciences of California has a fifty-two week low of $0.85 and a fifty-two week high of $2.72. The firm has a 50-day moving average of $1.39 and a 200-day moving average of $1.27. The company has a current ratio of 6.92, a quick ratio of 6.02 and a debt-to-equity ratio of 10.51. The company has a market capitalization of $382.97 million, a price-to-earnings ratio of -0.56 and a beta of 1.87.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.05. Pacific Biosciences of California had a negative return on equity of 66.75% and a negative net margin of 336.40%.The business had revenue of $39.77 million during the quarter, compared to analysts' expectations of $36.35 million. As a group, sell-side analysts anticipate that Pacific Biosciences of California will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently made changes to their positions in PACB. Jump Financial LLC acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth approximately $25,000. Sandbox Financial Partners LLC acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth approximately $32,000. Cim Investment Management Inc. grew its position in shares of Pacific Biosciences of California by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company's stock worth $32,000 after buying an additional 12,822 shares during the period. Hartline Investment Corp acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth approximately $37,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Pacific Biosciences of California by 47.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company's stock worth $37,000 after buying an additional 9,739 shares during the period.

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.