Pacific Biosciences of California (NASDAQ:PACB) traded up 6.3% during trading on Wednesday . The company traded as high as $4.98 and last traded at $4.86. 6,591,561 shares changed hands during mid-day trading, an increase of 568% from the average session volume of 986,702 shares. The stock had previously closed at $4.57.

A number of equities research analysts have commented on the stock. BidaskClub raised shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Cantor Fitzgerald assumed coverage on shares of Pacific Biosciences of California in a research report on Wednesday, August 8th. They issued an “overweight” rating and a $5.00 target price for the company. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Finally, ValuEngine raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.77.

The company has a current ratio of 4.33, a quick ratio of 3.28 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $608.25 million, a P/E ratio of -5.57 and a beta of 2.25.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). Pacific Biosciences of California had a negative net margin of 100.09% and a negative return on equity of 95.29%. The business had revenue of $21.58 million during the quarter, compared to the consensus estimate of $24.45 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The firm’s revenue was up 7.5% on a year-over-year basis. equities analysts predict that Pacific Biosciences of California will post -0.67 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Pacific Biosciences of California by 7.8% during the 1st quarter. BlackRock Inc. now owns 8,792,739 shares of the biotechnology company’s stock worth $18,023,000 after acquiring an additional 637,115 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Pacific Biosciences of California by 21.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 518,737 shares of the biotechnology company’s stock worth $1,064,000 after acquiring an additional 91,535 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Pacific Biosciences of California by 9.8% during the 1st quarter. Northern Trust Corp now owns 1,323,140 shares of the biotechnology company’s stock worth $2,713,000 after acquiring an additional 118,214 shares during the last quarter. UBS Group AG boosted its stake in shares of Pacific Biosciences of California by 72.8% during the 1st quarter. UBS Group AG now owns 301,726 shares of the biotechnology company’s stock worth $619,000 after acquiring an additional 127,112 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of Pacific Biosciences of California by 47.5% during the 2nd quarter. ARK Investment Management LLC now owns 6,321,293 shares of the biotechnology company’s stock worth $22,441,000 after acquiring an additional 2,036,596 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

About Pacific Biosciences of California (NASDAQ:PACB)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

Featured Story: Calculate Your Return on Investment (ROI)

Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.