Pacific Biosciences of California, Inc. (NASDAQ:PACB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has received an average rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $2.13.

A number of equities analysts have recently issued reports on the company. Stephens reissued an "overweight" rating and issued a $1.80 target price on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Wall Street Zen raised Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 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 report on Tuesday, March 25th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $3.00 price target on shares of Pacific Biosciences of California in a report on Thursday, April 10th. Finally, Piper Sandler dropped their price target on Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating for the company in a report on Thursday, May 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PACB. Sanctuary Advisors LLC boosted its position in shares of Pacific Biosciences of California by 218.3% in the 4th quarter. Sanctuary Advisors LLC now owns 35,457 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 24,318 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Pacific Biosciences of California by 299.2% in the 4th quarter. New York State Common Retirement Fund now owns 84,725 shares of the biotechnology company's stock worth $155,000 after purchasing an additional 63,500 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Pacific Biosciences of California by 24.0% in the 4th quarter. IFP Advisors Inc now owns 201,585 shares of the biotechnology company's stock worth $369,000 after purchasing an additional 38,984 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Pacific Biosciences of California by 7.9% in the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company's stock worth $65,961,000 after purchasing an additional 2,637,961 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Pacific Biosciences of California by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,176,252 shares of the biotechnology company's stock worth $3,983,000 after purchasing an additional 135,949 shares during the last quarter.

Pacific Biosciences of California Stock Performance

PACB opened at $1.27 on Friday. The stock has a 50-day moving average of $1.12 and a 200-day moving average of $1.44. Pacific Biosciences of California has a 52-week low of $0.85 and a 52-week high of $2.72. The company has a market cap of $381.10 million, a PE ratio of -0.46 and a beta of 2.10. The company has a debt-to-equity ratio of 7.05, a quick ratio of 5.87 and a current ratio of 6.68.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its 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. Pacific Biosciences of California had a negative return on equity of 52.07% and a negative net margin of 430.93%. The firm had revenue of $37.15 million during the quarter, compared to the consensus estimate of $36.90 million. During the same quarter in the prior year, the company earned ($0.26) EPS. As a group, equities research analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

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.

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