Brokerages Set Pacific Biosciences of California, Inc. (NASDAQ:PACB) Price Target at $2.13

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) have received a consensus rating of "Hold" from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $2.06.

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Wednesday. Piper Sandler cut their price objective on shares of 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 restated an "overweight" rating and issued a $1.80 target price on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. Scotiabank cut their price target on shares of 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. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $3.00 price objective on shares of Pacific Biosciences of California in a research report on Thursday, April 10th.

Pacific Biosciences of California Stock Performance

NASDAQ PACB traded up $0.02 during trading on Friday, reaching $1.22. The company's stock had a trading volume of 11,836,500 shares, compared to its average volume of 9,734,200. The business's fifty day moving average price is $1.12 and its 200-day moving average price is $1.43. Pacific Biosciences of California has a twelve month low of $0.85 and a twelve 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 firm has a market cap of $366.10 million, a price-to-earnings ratio of -0.44 and a beta of 2.10.

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

Institutional Investors Weigh In On Pacific Biosciences of California

A number of large investors have recently bought and sold shares of the stock. Jump Financial LLC acquired a new position in Pacific Biosciences of California in the 1st quarter valued at $25,000. Sandbox Financial Partners LLC acquired a new position in Pacific Biosciences of California in the first quarter valued at $32,000. Hartline Investment Corp acquired a new position in Pacific Biosciences of California in the first quarter valued at $37,000. First Trust Advisors LP purchased a new position in Pacific Biosciences of California during the fourth quarter worth about $42,000. Finally, Boothbay Fund Management LLC acquired a new stake in Pacific Biosciences of California in the 4th quarter worth about $43,000.

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.