Pacific Biosciences of California (NASDAQ:PACB) PT Lowered to $2.50

Pacific Biosciences of California (NASDAQ:PACB) had its target price cut by investment analysts at Sanford C. Bernstein from $9.00 to $2.50 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 73.55% from the stock’s current price.

Several other research firms have also weighed in on PACB. Scotiabank lowered their price objective on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating for the company in a research report on Thursday. Barclays decreased their target price on Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Wednesday. UBS Group decreased their target price on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, The Goldman Sachs Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $2.50 in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $7.77.

Pacific Biosciences of California Trading Up 2.9 %

Shares of PACB stock traded up $0.04 during mid-day trading on Thursday, hitting $1.44. The company’s stock had a trading volume of 12,352,262 shares, compared to its average volume of 9,649,694. The company’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $6.69. Pacific Biosciences of California has a 52 week low of $1.25 and a 52 week high of $14.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81. The company has a market cap of $385.98 million, a PE ratio of -1.19 and a beta of 1.83.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The firm had revenue of $58.36 million during the quarter, compared to analyst estimates of $57.96 million. During the same period last year, the company posted ($0.35) EPS. The business’s quarterly revenue was up 113.3% on a year-over-year basis. As a group, equities research analysts expect that Pacific Biosciences of California will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Pacific Biosciences of California

In other Pacific Biosciences of California news, Director David W. Meline bought 40,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $176,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director David W. Meline purchased 40,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $4.40 per share, with a total value of $176,000.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at approximately $176,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Oene Mark Van sold 33,560 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the sale, the insider now directly owns 876,611 shares in the company, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Insiders have sold 37,359 shares of company stock worth $218,843 in the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of hedge funds have recently modified their holdings of PACB. Fairfield Bush & CO. bought a new stake in shares of Pacific Biosciences of California in the 2nd quarter worth approximately $27,000. Captrust Financial Advisors raised its holdings in Pacific Biosciences of California by 217.2% during the 2nd quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 4,220 shares during the period. Comerica Bank bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at $46,000. KBC Group NV bought a new stake in Pacific Biosciences of California during the 4th quarter valued at $53,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at $59,000.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.