Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) have earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.00.

Several analysts have recently weighed in on PACB shares. ValuEngine downgraded Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research downgraded Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub downgraded Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, CL King downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating in a research note on Thursday.

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its holdings in Pacific Biosciences of California by 601.5% in the first quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock worth $214,000 after acquiring an additional 35,463 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Pacific Biosciences of California by 65.6% in the first quarter. Wells Fargo & Company MN now owns 220,446 shares of the biotechnology company’s stock worth $1,140,000 after acquiring an additional 87,308 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Pacific Biosciences of California by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 407,898 shares of the biotechnology company’s stock worth $2,108,000 after acquiring an additional 17,794 shares during the last quarter. Karp Capital Management Corp bought a new position in Pacific Biosciences of California in the first quarter worth about $116,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in Pacific Biosciences of California by 55.4% in the first quarter. Parametric Portfolio Associates LLC now owns 184,755 shares of the biotechnology company’s stock worth $955,000 after acquiring an additional 65,899 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Shares of Pacific Biosciences of California (NASDAQ:PACB) opened at 5.25 on Thursday. The firm’s 50-day moving average price is $4.61 and its 200-day moving average price is $4.21. The stock’s market capitalization is $606.85 million. Pacific Biosciences of California has a one year low of $3.08 and a one year high of $9.44.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The business had revenue of $20.07 million for the quarter, compared to analyst estimates of $23.34 million. Pacific Biosciences of California had a negative net margin of 89.67% and a negative return on equity of 93.31%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Equities research analysts anticipate that Pacific Biosciences of California will post ($0.89) EPS for the current fiscal year.

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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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