Pacific Biosciences of California Inc. (NASDAQ:PACB) has received an average rating of “Buy” from the nine analysts that are covering the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $12.42.

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $18.00 price objective on shares of Pacific Biosciences of California and gave the company a “buy” rating in a report on Monday, October 24th. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, October 25th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $12.00 price objective on shares of Pacific Biosciences of California in a report on Thursday, November 3rd.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at 7.96 on Friday. The stock has a 50 day moving average of $8.48 and a 200-day moving average of $8.61. The company’s market capitalization is $737.46 million. Pacific Biosciences of California has a one year low of $6.61 and a one year high of $14.00.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business earned $25.10 million during the quarter, compared to analysts’ expectations of $24.68 million. Pacific Biosciences of California had a negative net margin of 56.04% and a negative return on equity of 61.51%. The business’s quarterly revenue was up 80.6% on a year-over-year basis. During the same period last year, the company posted $0.02 earnings per share. On average, equities analysts forecast that Pacific Biosciences of California will post ($0.85) earnings per share for the current fiscal year.

In related news, SVP James Michael Phillips sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $8.44, for a total transaction of $168,800.00. Following the transaction, the senior vice president now directly owns 201,449 shares of the company’s stock, valued at $1,700,229.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in shares of Pacific Biosciences of California by 75.9% in the third quarter. Principal Financial Group Inc. now owns 25,364 shares of the company’s stock valued at $227,000 after buying an additional 10,942 shares in the last quarter. Northern Trust Corp raised its stake in shares of Pacific Biosciences of California by 4.8% in the third quarter. Northern Trust Corp now owns 933,424 shares of the company’s stock valued at $8,363,000 after buying an additional 42,464 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Pacific Biosciences of California by 6.4% in the third quarter. California State Teachers Retirement System now owns 169,994 shares of the company’s stock valued at $1,523,000 after buying an additional 10,200 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Pacific Biosciences of California by 376.6% in the third quarter. SG Americas Securities LLC now owns 79,443 shares of the company’s stock valued at $712,000 after buying an additional 62,773 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Pacific Biosciences of California by 11.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,873,225 shares of the company’s stock valued at $16,784,000 after buying an additional 191,106 shares in the last quarter. 66.66% of the stock is currently owned by institutional investors.

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’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System.

5 Day Chart for NASDAQ:PACB

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