Pacific Biosciences of California (NASDAQ:PACB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $2.86, but opened at $2.54. Pacific Biosciences of California shares last traded at $2.47, with a volume of 2728518 shares traded.

PACB has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. First Analysis lowered shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a report on Friday, November 3rd. Finally, BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Pacific Biosciences of California has an average rating of “Hold” and a consensus target price of $6.27.

The company has a quick ratio of 3.15, a current ratio of 3.75 and a debt-to-equity ratio of 0.10.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. The company had revenue of $24.94 million during 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 96.55%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. equities analysts anticipate that Pacific Biosciences of California will post -0.68 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Pacific Biosciences of California by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock valued at $13,988,000 after buying an additional 283,216 shares during the last quarter. HighTower Advisors LLC raised its stake in Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 7,225 shares during the last quarter. State Street Corp raised its stake in Pacific Biosciences of California by 7.5% during the 2nd quarter. State Street Corp now owns 1,521,245 shares of the biotechnology company’s stock valued at $5,419,000 after buying an additional 106,607 shares during the last quarter. Alliancebernstein L.P. raised its stake in Pacific Biosciences of California by 45.5% during the 2nd quarter. Alliancebernstein L.P. now owns 114,200 shares of the biotechnology company’s stock valued at $407,000 after buying an additional 35,700 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Pacific Biosciences of California by 8.6% during the 2nd quarter. Northern Trust Corp now owns 1,076,060 shares of the biotechnology company’s stock valued at $3,831,000 after buying an additional 84,795 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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About Pacific Biosciences of California

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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