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

Key Points

• Pacific Biosciences of California has received a consensus recommendation of "Hold" from analysts, with ratings that include one sell, four holds, and three buys.
• The average 1-year price target for the company's stock is $1.90, indicating a modest outlook from analysts.
• Recent institutional activity saw significant increases in stakes, such as Cim Investment Management Inc. increasing their stake by over 100% during the second quarter.

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $1.90.

PACB has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Pacific Biosciences of California from $1.25 to $1.50 and gave the company a "neutral" rating in a research report on Monday, August 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Pacific Biosciences of California in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Pacific Biosciences of California from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th.

Pacific Biosciences of California Price Performance

PACB stock opened at $2.02 on Friday. The company has a debt-to-equity ratio of 10.51, a quick ratio of 6.02 and a current ratio of 6.92. Pacific Biosciences of California has a 52 week low of $0.85 and a 52 week high of $2.72. The firm's fifty day moving average is $1.41 and its 200 day moving average is $1.31. The firm has a market cap of $606.75 million, a P/E ratio of -0.88 and a beta of 2.10.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) EPS for the quarter. The business had revenue of $3.34 million for the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. Research analysts predict that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jump Financial LLC bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth about $25,000. Cim Investment Management Inc. increased its stake in shares of Pacific Biosciences of California by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 12,822 shares in the last quarter. SteelPeak Wealth LLC increased its stake in shares of Pacific Biosciences of California by 95.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 29,930 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 14,626 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pacific Biosciences of California by 47.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company's stock worth $37,000 after acquiring an additional 9,739 shares in the last quarter. Finally, Hartline Investment Corp bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth about $37,000.

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.

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