Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; public health labs, hospitals and clinical research institutes, contract research organizations, and academic institutions; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. Pacific Biosciences of California, Inc. has a development and commercialization agreement with Invitae Corporation. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Pacific Biosciences of California from $13.00 to $6.00 and set a "na" rating on the stock in a research note on Sunday, May 15th. Canaccord Genuity Group reduced their target price on shares of Pacific Biosciences of California from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday. Cantor Fitzgerald cut their price target on shares of Pacific Biosciences of California from $23.00 to $19.00 in a report on Thursday, May 5th. Finally, Cowen set a $9.00 price target on shares of Pacific Biosciences of California in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, Pacific Biosciences of California currently has an average rating of "Moderate Buy" and an average target price of $22.17.
Pacific Biosciences of California Trading Up 4.3 %
NASDAQ:PACB opened at $6.06 on Friday. The company's 50-day moving average price is $4.80 and its 200-day moving average price is $7.49. The company has a current ratio of 16.87, a quick ratio of 16.38 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.36 billion, a PE ratio of -6.59 and a beta of 1.43. Pacific Biosciences of California has a 12 month low of $3.85 and a 12 month high of $34.95.
Pacific Biosciences of California (NASDAQ:PACB - Get Rating) last issued its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. Pacific Biosciences of California had a negative net margin of 147.39% and a negative return on equity of 34.55%. During the same quarter in the previous year, the business posted ($0.21) EPS. Equities research analysts forecast that Pacific Biosciences of California will post -1.38 earnings per share for the current year.