Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst consensus: Hold — Seven analysts average a "Hold" rating (2 sells, 1 hold, 3 buys, 1 strong buy) with a mean 1-year target of $2.10.
• Recent results showed an EPS of ($0.12) beating estimates and revenue of $44.65M, but the company remains unprofitable with a negative net margin and a market cap of about $420M and a 52-week range of $0.85–$2.73.
• Significant insider selling occurred recently (729,711 shares sold worth ~$1.16M last quarter), leaving insiders with roughly 2.5% ownership, which may be a negative signal for some investors.

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 stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $2.10.

Several research analysts have weighed in on the stock. Zacks Research raised shares of Pacific Biosciences of California from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Pacific Biosciences of California in a research note on Thursday, January 22nd. Finally, Barclays reissued an "underweight" rating and issued a $1.50 price objective (down from $2.00) on shares of Pacific Biosciences of California in a report on Friday, March 6th.

Pacific Biosciences of California Price Performance

PACB stock opened at $1.39 on Tuesday. The stock's 50 day moving average is $1.82 and its two-hundred day moving average is $1.81. Pacific Biosciences of California has a 52-week low of $0.85 and a 52-week high of $2.73. The company has a market capitalization of $419.78 million, a PE ratio of -0.76 and a beta of 2.31. The company has a quick ratio of 4.47, a current ratio of 5.15 and a debt-to-equity ratio of 120.65.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Thursday, February 12th. The biotechnology company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.07. The company had revenue of $44.65 million during the quarter, compared to analysts' expectations of $44.60 million. Pacific Biosciences of California had a negative return on equity of 326.43% and a negative net margin of 341.47%. Analysts predict that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 129,790 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $1.58, for a total transaction of $205,068.20. Following the transaction, the insider directly owned 1,797,745 shares in the company, valued at $2,840,437.10. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michele Farmer sold 35,215 shares of Pacific Biosciences of California stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $1.58, for a total transaction of $55,639.70. Following the completion of the transaction, the insider directly owned 234,044 shares of the company's stock, valued at approximately $369,789.52. This represents a 13.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 729,711 shares of company stock worth $1,161,951. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PACB. ProShare Advisors LLC boosted its holdings in shares of Pacific Biosciences of California by 10.2% in the 4th quarter. ProShare Advisors LLC now owns 63,799 shares of the biotechnology company's stock valued at $119,000 after buying an additional 5,883 shares during the period. Intech Investment Management LLC boosted its stake in Pacific Biosciences of California by 5.2% in the third quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company's stock valued at $169,000 after acquiring an additional 6,564 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Pacific Biosciences of California by 47.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,663 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 6,695 shares during the last quarter. Rhumbline Advisers raised its position in shares of Pacific Biosciences of California by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company's stock worth $532,000 after purchasing an additional 8,532 shares during the period. Finally, Green Alpha Advisors LLC lifted its holdings in shares of Pacific Biosciences of California by 5.4% in the 4th quarter. Green Alpha Advisors LLC now owns 183,466 shares of the biotechnology company's stock worth $343,000 after purchasing an additional 9,441 shares during the last quarter.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company's proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.

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