Pacific Biosciences of California (NASDAQ:PACB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research note issued to investors on Tuesday.

Other research analysts have also recently issued reports about the company. UBS Group decreased their price objective on Pacific Biosciences of California from $12.50 to $12.00 and set a buy rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. cut Pacific Biosciences of California from an overweight rating to a neutral rating in a report on Monday, April 22nd. Sanford C. Bernstein cut their price objective on Pacific Biosciences of California from $9.00 to $2.50 and set an outperform rating for the company in a research report on Thursday, April 18th. Piper Sandler decreased their target price on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a neutral rating on the stock in a research report on Monday. Finally, TD Cowen lowered their target price on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a buy rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $6.59.

Pacific Biosciences of California Trading Down 7.8 %

Shares of NASDAQ PACB traded down $0.17 during trading on Tuesday, hitting $2.02. 6,747,862 shares of the company were exchanged, compared to its average volume of 10,285,291. The company has a fifty day moving average price of $2.76 and a 200-day moving average price of $5.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28. The firm has a market capitalization of $550.17 million, a PE ratio of -1.80 and a beta of 1.99. Pacific Biosciences of California has a 12-month low of $1.25 and a 12-month high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The company had revenue of $38.81 million for the quarter, compared to the consensus estimate of $38.78 million. Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. As a group, equities research analysts expect that Pacific Biosciences of California will post -0.94 EPS for the current year.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, Director David W. Meline bought 40,000 shares of Pacific Biosciences of California stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $4.40 per share, for a total transaction of $176,000.00. Following the acquisition, the director now directly owns 40,000 shares in the company, valued at $176,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in shares of Pacific Biosciences of California by 67.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,094,724 shares of the biotechnology company’s stock worth $10,739,000 after buying an additional 442,250 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth approximately $4,103,000. ARK Investment Management LLC grew its holdings in Pacific Biosciences of California by 15.7% during the 4th quarter. ARK Investment Management LLC now owns 34,504,273 shares of the biotechnology company’s stock worth $338,487,000 after acquiring an additional 4,681,833 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Pacific Biosciences of California by 37.5% in the 3rd quarter. Nordea Investment Management AB now owns 149,131 shares of the biotechnology company’s stock valued at $1,255,000 after purchasing an additional 40,667 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Pacific Biosciences of California by 452.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 330,331 shares of the biotechnology company’s stock valued at $2,758,000 after purchasing an additional 270,573 shares in the last quarter.

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.