Pacific Biosciences of California (PACB) Receives $6.27 Consensus Target Price from Analysts

Pacific Biosciences of California (NASDAQ:PACB) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.27.

A number of research firms have issued reports on PACB. Zacks Investment Research lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st.

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Pacific Biosciences of California stock traded down $0.11 during trading on Thursday, hitting $2.32. 1,274,080 shares of the company traded hands, compared to its average volume of 881,226. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.74 and a current ratio of 3.55. Pacific Biosciences of California has a 1-year low of $2.21 and a 1-year high of $5.70.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. The company had revenue of $24.94 million for the quarter, compared to analyst estimates of $21.89 million. Pacific Biosciences of California had a negative net margin of 98.63% and a negative return on equity of 98.98%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. analysts forecast that Pacific Biosciences of California will post -0.63 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC lifted its holdings in Pacific Biosciences of California by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock valued at $148,000 after purchasing an additional 6,218 shares in the last quarter. Moloney Securities Asset Management LLC purchased a new position in Pacific Biosciences of California in the 4th quarter valued at about $154,000. Aperio Group LLC lifted its holdings in Pacific Biosciences of California by 105.5% in the 3rd quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 21,766 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Pacific Biosciences of California by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 5,145 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Pacific Biosciences of California in the 4th quarter valued at about $301,000. Institutional investors own 59.46% of the company’s stock.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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