Pacific Biosciences of California - PACB Stock Forecast, Price & News

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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PACB. Canaccord Genuity Group reduced their price objective on Pacific Biosciences of California from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, August 5th. Cantor Fitzgerald reduced their price objective on Pacific Biosciences of California from $23.00 to $19.00 in a research note on Thursday, May 5th. Piper Sandler reduced their price objective on 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. Finally, Cowen reduced their price objective on Pacific Biosciences of California to $8.00 in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Pacific Biosciences of California Stock Down 4.8 %

PACB Stock traded down $0.40 during trading on Tuesday, hitting $7.96. 241,526 shares of the company's stock were exchanged, compared to its average volume of 12,079,311. The business has a 50-day moving average price of $5.08 and a two-hundred day moving average price of $7.37. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -8.42 and a beta of 1.44. Pacific Biosciences of California has a 52-week low of $3.85 and a 52-week high of $32.55. The company has a current ratio of 11.50, a quick ratio of 11.07 and a debt-to-equity ratio of 1.31.

Pacific Biosciences of California (NASDAQ:PACB - Get Rating) last posted its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. Pacific Biosciences of California had a negative return on equity of 35.76% and a negative net margin of 147.39%. During the same quarter in the previous year, the business earned ($0.21) earnings per share. As a group, equities research analysts expect that Pacific Biosciences of California will post -1.39 EPS for the current year.