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

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $2.45.

PACB has been the subject of a number of analyst reports. Scotiabank lowered their price objective on Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Tuesday, March 25th. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a research report on Tuesday, February 25th. Canaccord Genuity Group reiterated a "buy" rating and set a $3.00 price objective on shares of Pacific Biosciences of California in a research report on Thursday, April 10th. The Goldman Sachs Group dropped their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Finally, Piper Sandler reiterated a "neutral" rating and set a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th.

Insider Buying and Selling at Pacific Biosciences of California

In related news, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares of the company's stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. PCA Investment Advisory Services Inc. lifted its position in Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 5,000 shares in the last quarter. Sandbox Financial Partners LLC bought a new position in shares of Pacific Biosciences of California in the first quarter valued at approximately $32,000. Hartline Investment Corp purchased a new position in shares of Pacific Biosciences of California during the first quarter valued at approximately $37,000. First Trust Advisors LP bought a new stake in Pacific Biosciences of California during the fourth quarter worth $42,000. Finally, Boothbay Fund Management LLC purchased a new stake in Pacific Biosciences of California in the 4th quarter valued at $43,000.

Pacific Biosciences of California Trading Down 0.9 %

PACB traded down $0.01 during trading on Friday, reaching $1.10. 6,304,154 shares of the company's stock were exchanged, compared to its average volume of 9,665,879. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a one year low of $1.06 and a one year high of $2.72. The firm has a fifty day moving average price of $1.25 and a two-hundred day moving average price of $1.65. The stock has a market capitalization of $330.05 million, a PE ratio of -0.67 and a beta of 2.19.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $39.22 million for the quarter, compared to analysts' expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. As a group, equities research analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

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.